Stocks jumped on Wall St on Friday after investors took heart from steps by EU leaders to save the euro. The question now is: 'Does it have legs?'
The EU ministers also pledged to create a single banking supervisor
The Dow Jones Index was up 278 points, or 2.2%, at 12,880.
The Nasdaq Composite rose 86 points, or 3%, at 2935.
The FTSE 100 in London rose 1.4%, the DAX in Frankfurt was up 4.3% and the CAC-40 in Paris was up 4.8%
The Nikkei Index in Tokyo was up 133 points at 9007.
The Australian 200 index rose 50 points, or 1.2%, to close at 4095.
The NZX 50 13 points closed on Friday at 34 01.
At 8.30am on Monday, the New Zealand dollar was trading at 78.78 US cents, 78.45 Australian cents, 50.75 pence, 63.56 yen and 0.6325 euro. The Trade Weighted Index was at 71.61.
Brent crude oil was trading at $US94.42 per barrel and gold was trading at $US1598.09 per ounce.