A look at economic developments and activity in major stock markets around the world Wednesday:
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BRUSSELS — Europe's leaders are grasping for ideas to halt their government debt crisis ahead of a series of top-level meetings over the next 10 days. The latest: Using their emergency bailout funds to buy government bonds on the open market.
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MADRID — Spain's finance minister insisted that the country does not need a full-blown bailout, even as Spain's borrowing costs remained at dangerous levels.
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LONDON — World stock markets mostly rose ahead of the U.S. Federal Reserve's decision to extend Operation Twist, its program intended to lower long-term interest rates in a bid to boost growth and employment.
Britain's FTSE100 index rose 0.6 percent, Germany's DAX gained 0.5 percent and France's CAC 40 rose 0.3 percent.
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TOKYO — In Asia, Japan's Nikkei 225 index rose 1.1 percent. Hong Kong's Hang Seng added 0.5 percent and South Korea's Kospi gained 0.7 percent.
Australia's S&P/ASX 200 added 0.2 percent. Benchmarks in Singapore, Taiwan and Indonesia also ended higher. Mainland China's Shanghai Composite Index fell. Benchmarks in Thailand and New Zealand were also lower.
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LONDON — The Bank of England's Monetary Policy Committee came within one vote of backing more monetary stimulus for the economy at its meeting earlier this month, reinforcing expectations that a fresh injection could come in July.
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LOS CABOS, Mexico — Italian Premier Mario Monti has proposed using the eurozone's €440 billion ($555 billion) bailout fund to buy sovereign debt and ease pressure on Italian and Spanish borrowing rates.
