Global Markets: Asian shares rise
"Efforts to avert a Greek default may provide short-term relief for the euro, but the measures will only help to buy more time as Greece persistently seeks further external assistance," said David Song, currency analyst at DailyFX, who is maintaining a bearish view on the single currency. Overnight, U.S. stocks ended modestly higher but volume was one of the year's lowest on the day ahead of the U.S. Thanksgiving holiday.U.S. manufacturing grew in November at its quickest pace in five months, with a rise in domestic demand hinting that factories could provide a boost to economic growth in the fourth quarter, while those from Europe are due out later on Thursday.
A ceasefire between Israel and Gaza's Hamas rulers took hold on Thursday after eight days of conflict, easing concerns about supply from oil-producing Middle East.U.S. crude rose 0.3 percent to $87.66 a barrel while Brent inched up 0.2 percent to $111.06.A rallying stock market boosted sentiment in Asian credit markets, tightening the spreads on the iTraxx Asia ex-Japan investment-grade index by 3 basis points.
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