US markets were closed overnight due to the Thanksgiving Day holiday.

European markets traded in the green overnight following positive manufacturing data from China coupled with the ceasefire agreement between Hamas and Israel.

The UK's FTSE climbed 39 points (+0.7%) to settle at 5791 whilst Germany's DAX added 60 points (+0.8%) to settle at 7245. France's CAC rose 21 points (+0.6%) to settle at 3498.

In the commodity space, gold for December delivery increased 0.1% to settle at $1729.50 an ounce as Central Banks increased their reserves.

Elsewhere, crude oil for January delivery decreased 0.1% to settle at $87.28 a barrel after the ceasefire between Israel and Hamas continued to ease supply concerns.

In the currency space, the Japanese yen traded flat amidst weak economic data and the probable likelihood that opposition leader, Mr. Shinzo Abe, will be elected as prime minister.

The euro strengthened and Greek bonds rose for a 10th day as the region's leaders prepared to hold budget talks. There is no major local economic data slated for release today.

Morning Market Update: Euro Markets Higher is a post from: Australian Stock Report Market Pulse Blog