Weekly

Asia's leading stock markets rallied yesterday amid growing optimism about a global economic recovery as countries around the world further lifted restrictions and boosted investor confidence,

And over sino-American tensions and a crisis of violent protests across the United States. Yesterday's eurozone composite purchasing managers' index rose to 31.9 in May, up from 13.6 in April,

Is a rebound from a nearly 22-year low; The final reading of the Institute for Supply Management's non-manufacturing purchasing managers' index rose to 45.4, though it was still some way from the 50 mark that separates expansion from contraction.

But there have also been significant improvements. A report by human resources consultants ADP released on the same day showed that the change in non-farm payrolls fell by 2.76 million in May, significantly less than the market estimate of 9 million.

The analysis suggests that unemployment may have peaked as business activity resumes. The positive data led U.S. stocks to do well, with British, French and German stocks up nearly 3% to 4% and the Dow challenging 26,000,

It closed up 2% at 26,269 points. Gold was the casualty, extending losses in the US session, falling below 1690 to close at 1698. U.S. crude inventories fell by 2.077 million barrels last week, according to the U.S. Energy Information Administration,

The market had expected an increase of 3.038 million barrels. But Saudi Arabia and Russia have been tough on cheating on some of their commitments to cut output,

Uncertainty surrounds whether the Organisation of the Petroleum Exporting Countries and its Allies will meet as scheduled this month. Oil prices gave up some of their profits, still up 4 percent at $36.8 a barrel in New York.

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