Global stocks rise on expectations for Europe stimulus

SEOUL, South Korea - Global stocks were mostly higher Thursday on expectations for additional European Central Bank stimulus as jitters about tensions between Russia and Turkey faded.

Europe opened higher, with Britain's FTSE 100 up 0.4 percent to 6,365.11. Germany's DAX advanced 1.1 percent to 11,294.94 and France's CAC 40 gained 0.7 percent to 4,927.79. U.S. markets will be closed Thursday for Thanksgiving. They will reopen Friday for an abbreviated trading session that will close at 1 p.m. Eastern.

Reports ECB officials are considering options for additional easing weighed on Europe's common currency. Next Thursday, the European Central Bank's governing council meets to set monetary policy for the 19-nation bloc of euro countries in Frankfurt, Germany. It has already deployed quantitative easing and some analysts expect additional measures to help revive the moribund European economy and avoid deflation.

"Mario Draghi is not to be second-guessed, every time you think easing is priced in, we hear of new potential measures which raise the markets' expectations even more," said Chris Weston, chief market strategist at IG in Melbourne, Australia. Weston said after media reports on new stimulus in Europe, there were signs that showed "market has become very excited."

Japan's Nikkei 225 rose 0.5 percent to 19,944.41 and South Korea's Kospi gained 1.1 percent to 2,030.68. Hong Kong's Hang Seng erased earlier gains, finishing flat at 22,488.94. Australia's S&P/ASX 200 advanced 0.3 percent to 5,210.70. But Shanghai's index turned lower while stocks in Taiwan, Indonesia and the Philippines rose.

Asian markets dropped earlier this week after Turkey shot down a Russian fighter jet that entered Turkish territory from Syria. Angus Nicholson, a market analyst at IG, said that statements by Russia's foreign minister served to ease investor concerns as it indicated that Russia was not prepared to escalate the tensions with Turkey.

U.S. data showed that consumer spending inched up 0.1 percent last month while spending on long-lasting manufactured goods improved in October, after two months of declines. Analysts said the latest data added weight to arguments for the Fed to raise interest rates for the first time in nearly a decade next month.

Benchmark U.S. crude fell 7 cents to $42.97 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 17 cents, or 0.4 percent, to close at $43.04 in New York on Wednesday. Brent crude, a benchmark for international oils, lost 35 cents to $45.83 a barrel in London.

The dollar weakened to 122.60 yen from 122.69 yen on Wednesday. The euro fell to $1.0610 from $1.0623.