The Albany Gazette - Stocks rally as hopes rise for end to US shutdown

The possibility of resuming operations in the world's biggest economy helped temper lingering worries about extended tech valuations amid talk of an AI bubble.

"The more risk-on mood means it's pretty much a sea of green on the boards," Neil Wilson, UK Investor Strategist at Saxo, said of the gains across stock markets.

"In the US, stock futures are pointing to solid gains," he added.

Frankfurt led the way in Europe, up 1.7 percent nearing midday after Hong Kong closed up by a similar amount.

The dollar, which steadied versus the euro and British pound, rose against the yen. Oil prices gained slightly.

Investors have been growing increasingly concerned about the financial impact of the US shutdown, which has seen several government services halted and air travel disrupted heading into the Thanksgiving holiday.

A group of Democrats in the Senate sided with Republicans in a procedural vote on the deal Sunday evening -- clearing the way for a formal debate -- after reaching a bipartisan agreement to fund operations through January.

The Senate will have up to 30 hours to debate before the measure is expected to be passed.

Once it clears the Senate, it needs approval from the Republican-controlled House of Representatives before going to President Donald Trump for his signature.

The vote came after weeks of wrangling over healthcare subsidies, food benefits and Trump's firings of federal employees.

The US president told reporters "it looks like we're getting close to the shutdown ending".

Lawmakers said the deal would restore funding for food stamps, reverse Trump's firings of thousands of federal workers and assure a vote on extending health care subsidies.

The reopening would allow officials to resume the release of key economic data, including on the labour market, which is a key gauge for the Federal Reserve as it considers whether to cut interest rates again next month.

Investors took heart also from a further easing of China-US tensions.

Beijing on Monday said it would suspend for one year "special port fees" on US vessels "simultaneously" with Washington's pause on levies targeting Chinese ships.

- Key figures at around 1045 GMT -

London - FTSE 100: UP 1.0 percent at 9,783.56 points

Paris - CAC 40: UP 1.4 percent at 8,057.33

Frankfurt - DAX: UP 1.7 percent at 23,976.36

Tokyo - Nikkei 225: UP 1.3 percent at 50,911.76 (close)

Hong Kong - Hang Seng Index: UP 1.6 percent at 26,649.06 (close)

Shanghai - Composite: UP 0.5 percent at 4,018.60 (close)

New York - Dow: UP 0.2 percent at 46,987.10 (close)

Euro/dollar: UP at $1.1564 from $1.1563 on Friday

Pound/dollar: DOWN at $1.3159 from $1.3160

Dollar/yen: UP at 154.15 yen from 153.46 yen

Euro/pound: UP at 87.87 pence from 87.86 pence

Brent North Sea Crude: UP 0.2 percent at $63.73 per barrel

West Texas Intermediate: UP 0.2 percent at $59.87 per barrel

(D.Lewis--TAG)