Stockmarkets in North America and Europe ended higher as strong earnings boosted investor confident in a global recovery and money moved from the US dollar to higher yielding assets and gold.

On Wall Street, corporate news returned to the fore, including some promising signs heading into the holiday shopping season that makes or breaks many retailers.

The Dow Jones Industrial Average, up about 108 points at its early-afternoon high, ended with a gain of 73 points, up 0.7%, at 10,270.47 and up 2.5% for the week.

The S&P 500 closed 0.6% higher at 1093.48, up 2.3% for the week. Every sector except financials posted gains on Friday, led by a 1.6% rise in the consumer-discretionary category.

Among that sector's big winners was Walt Disney, up 4.8% after reporting an 18% gain in quarterly earnings that beat analysts' estimates. Retailers Abercrombie & Fitch and JC Penney also posted better-than-expected results, pushing their shares up 11% and 6.2% respectively.

The Nasdaq Composite was up 0.9% to 2167.88.

Canadian stocks rose, completing a second-straight weekly gain.

Barrick Gold rallied 1.9% as the metal gained for a second week. Suncor Energy gained 1.2% while Power Corporation of Canada, a holding company with stakes in financial institutions, dropped 2.5% after reporting earnings that missed analysts’ estimates.

The S&P/TSX Composite Index gained 46.92 points, or 0.4%, to 11,407.68. The index added 1.4% for the week.

European stocks rose for a third day, extending the Dow Jones Stoxx 600 Index’s second straight weekly gain, as a return to growth in the region’s economy was confirmed.

Richemont, the world’s largest jewellery maker, and Bulgari, the third biggest, jumped more than 5% after earnings beat estimates.

The Dow Jones Stoxx 600 added 0.5% to 247.8, bringing this week’s advance to 2.8%.

The euro-area economy emerged from its worst recession since World War II in the third quarter as exports from Germany and France helped compensate for households’ reluctance to increase spending.

Gross domestic product in the economy of the 16 nations using the euro rose 0.4% from the second quarter, when it fell 0.2%. Economists had forecast 0.5% growth, according to the median of 34 estimates in a Bloomberg survey.

The UK FTSE 100 index closed up 0.4% at 5296.38, the German DAX added 0.4% to 5686.83 and the French CAC-40 index lost 0.1% to 3806.01.

National benchmark indexes advanced in 12 of the 18 western European markets.

Commodities: Oil down, gold up

Crude-oil futures settled close to a one-month at the end of the week as worsening US demand caused investors to steer clear of buying oil despite a weak dollar.

Light, sweet crude for December delivery settled 59USc, or 0.8%, lower at $US76.35 a barrel in New York, the lowest settlement since October 14. Brent crude on the ICE futures exchange closed 4USc, or 0.6%, lower at $US75.55.

Gold futures finished almost 2% up for the week, receiving a lift as the dollar weakened and on news that Vietnam lifted a ban on imports of the precious metal.

On Friday, gold for December delivery rose 10USc, or 1%, to $US1116.60 an ounce in New York.

Currencies: Dollar down, euro up

The US dollar declined against most of its 16 major counterparts tracked by Bloomberg as speculation the global economic recovery is gathering momentum encouraged demand for higher-yielding assets.

The dollar slid 0.3% to $US1.4895 per euro, from $1.4850 on Thursday. The greenback was down by the same amount for the week against Europe’s currency.

The dollar was at ¥89.58 from ¥90.40, while the euro was at ¥133.70 from ¥134.15. The UK pound was at $US1.6692 from $US1.6581.

Canada’s dollar strengthened as a report showed the nation’s trade deficit narrowed more than forecast.

The currency posted its second straight weekly advance, 2.5%, against its US counterpart.

Canada’s dollar appreciated 0.4% to $C1.0516 per US dollar, from $C1.0557. One Canadian dollar buys 95.09USc.