Markets extended recent gains last night with the international leaderboard lit up with green ink.

In Europe the FTSE added 110 points (2.1%) whilst the CAC (+3.3%) and DAX (+3.2%) enjoyed even stronger gains.

Stateside, the Dow Jones added 186 points (+1.7%) whilst the S&P 500 advanced 1.7% and the Nasdaq jumped 1.3%.

It was the fourth straight gain for US stocks, with the gains following a pledge by central banks to pump dollars into the European banking system.

Investors were encouraged by five major central banks’ decision to arrange three new funding operations aimed at stemming a new liquidity crisis.

The move took some pressure off European lenders that have faced trouble borrowing the US currency.

The euro rose the most in a month against the greenback after the ECB said it will lend dollars to euro-area banks.

The 17-nation currency rallied amid comments from the ECB that is coordinate with the Federal Reserve and other central banks to ensure eurozone banks have enough US currency through the end of the year.

Gold fell for the third time in four sessions, with investors retreating from assets that are considered havens from market swings.

Gold shed 2.5% to settle at US$1781, whilst crude oil added 0.6% to settle at US$89.40 a barrel.

There is no major local data due for release during today's session.