Asian stocks gain

GLOBAL MARKETS/ STOCK REPORT

Toyota Motor, which gets about half its profit from North America, climbed to the highest in more than three months in Tokyo. Samsung Electronics rose on speculation consumer spending in the US, the world's largest economy, will be sustained. Korean Air Lines jumped after South Korea allowed its two biggest carriers to increase fuel surcharges.

The MSCI Asia Pacific Index added 1.5 per cent to 142.84 as of 5:40 pm in Tokyo, the largest gain since April 21. About four stocks advanced for each that retreated among 991 companies making up the benchmark, which rebounded from its largest weekly drop in 10 months.

Japan's Nikkei 225 Stock Average added 2.7 per cent to 14,354.37. China's CSI 300 Index declined for a ninth day, closing almost 50 per cent below its October record. Indexes advanced in other Asian markets open for trading, except for Australia, New Zealand and Pakistan.

Europe
European stocks gained for a third day, led by Barclays and BNP Paribas SA, after investors speculated banks will be able to replenish capital as the credit-market turmoil subsides. US index futures advanced.

Europe's Dow Jones Stoxx 600 Index added 0.2 per cent to 306.21 at 10:51 am in London, reversing earlier declines of as much as 0.3 per cent. Concern that credit losses approaching $400 billion, rising oil prices and higher inflation will curb profit has dragged the Stoxx 600 down 16 per cent this year.

Futures on the Standard & Poor's 500 Index gained 0.3 per cent, and the MSCI Asia Pacific Index increased 1.6 per cent.

National indexes increased in 10 of the 18 western European markets. The UK's FTSE 100 rose 0.3 per cent, while Germany's DAX gained 0.2 per cent. France's CAC 40 was little changed.

US
US stocks rose on Friday, paring the week's losses, after oil retreated and some measures of inflation matched economists' forecasts, damping speculation that the Federal Reserve will boost interest rates this year.

The Standard & Poor's 500 Index added 20.16, or 1.5 per cent, to 1,360.03. The Dow Jones Industrial Average jumped 165.77, or 1.4 per cent, to 12,307.35. The Nasdaq Composite Index advanced 50.15, or 2.1 per cent, to 2,454.5. Five stocks gained for each that slipped.