In the UK the FTSE 100 index of leading shares has gained 36.50 points, or 0.7%, to 5450.10 sending the benchmark to a four-year high, after the price of oil fell for the third straight day as concern that Hurricane Rita will disrupt supply eased.
Rio Tinto Group and Imperial Chemical Industries have paced the advance.
Rio Tinto, the world's third-biggest mining company, has climbed 68p, or 3.1%, to 2,237p.
Imperial Chemical, the UK’s biggest specialty chemical manfacturer, has increased 5p, or 1.7%, to 298.5p.
Crude-oil futures have declined as much as 2.4% to $62.65 a barrel in New York.
Alexon Group, the operator of Dolcis shoe shops and Envy fashion stores, has slid 15.5p, or 5.6%, to 260p. The company says fiscal first-half profit dropped 34% to £5.41m as consumers reined in their spending.
Datamonitor, a market-research company, has advanced 11.75p, or 6.4%, to 195.75p after saying first-half pre-tax profit more than doubled to £4.3m from £1.6m a year earlier, helped by acquisitions such as Butler Research Group and EBenchmarkers.
In Japan, stocks climbed with exporters including Toyota rising on news of falling oil prices in the US. Refineries were spared a direct hit from Hurricane Rita at the weekend.
The Nikkei 225 Stock Average rose 233.27 point, or 1.8% to close at 13,392.63 in Tokto at short while ago it’s highest point since June 2001. Toyota climbed 220 yen, or 4.6%, to 5,020, its highest point since June 2000 and its biggest gain since May 2004. The company had 60% of its sales outside Japan last fiscal year.
Canon, the world's top digital-camera seller, gained 100 yen, or 1.7% to 5,880.
Sony, the world's second-largest manufacturer of consumer electronics, dropped 120 yen, or 3.1%, to 3,820 after forecasting its first loss in more than a decade and announcing 10,000 job cuts on 22 September. Rivals including Apple and Sharp have also cut into sales.
NTT, the nation's biggest telephone company, jumped 42,000 yen, or 8% to 570,000, the biggest gain since 12 November 2003 following reports the company plans to combine fixed-line, Internet and systems operations businesses by 2007.
Banks also gained. Sumitomo Mitsui, Japan's third-largest lender, gained 20,000 yen, or 2%, to 1.03m yen.
Mitsubishi Tokyo Financial Group, the nation's No.2 bank, added 10,000 yen, or 0.8%, to 1.24m yen. UFJ Holdings, Japan's fourth largest, climbed 8,000 yen, or 1.1%, to 761,000.
Mizuho Financial Group, Japan's biggest bank, added 19,000 yen, or 2.9%, to 685,000.
In the US, the Dow Jones Industrial Average closed down 2.46 points at 10,419.59 on Friday despite easing oil prices as it became clear that Hurricane Rita would not have the same devastating impact as Hurricane Katrina.
Global media giant News Corporation rose $0.12 cents to $21.54.IFAonline
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