FROM MORRISON SECURITIES PTY. LTD:

U.S. STOCKS

The Dow industrials broke a six-session losing streak Thursday as a potential breakthrough by Greek political leaders eased immediate concerns about the country's exit from the euro zone.

The Dow Jones Industrial Average gained 19.98 points, or 0.2%, to 12855.04. Blue chips survived a last-minute swoon, after having turned negative in the final minutes of the session, to snap their longest losing streak since August.

The Standard & Poor's 500-stock index advanced 3.41 points, or 0.3%, to 1357.99, as utility and telecommunications stocks led the market higher.

The technology-heavy Nasdaq Composite fell 1.07 points, less than 0.1%, to 2933.64 as Cisco Systems slumped 11%. The networking-equipment company gave a downbeat outlook for the quarter ahead, warning that big customers were exercising caution with technology spending.

U.S. stocks followed gains in Europe, where hopes rose that Greece might cobble together a government and prevent a fractious election.

In economic news, a weekly labor-market report beat expectations. Claims for unemployment benefits fell slightly last week versus expectations for claims to rise, though a reading on the previous week was revised slightly higher.

Separately, the U.S. trade deficit widened in March, as a wave of oil imports and Chinese goods overwhelmed record exports.

In corporate news, Priceline.com fell 5.3% after the online-travel booker reported first-quarter earnings that exceeded forecasts but provided a cautious outlook for the second quarter. Avon Products gained 3.3% after Coty Inc. boosted its bid to buy the company to $24.75 a share and disclosed Warren Buffett's Berkshire Hathaway is participating in its bidding group.

EUROPEAN STOCK MARKETS

European equities rose Thursday as Spanish and Greek stocks bounced back from recent declines, while better-than-expected results from UniCredit SpA boosted financials.

The Stoxx Europe 600 index ended 0.6% higher at 251.10. Shares of Hennes & Mauritz AB rose 0.9% after UBS upgraded the clothing retailer to buy from neutral.

Oil major Total SA jumped 1.9% as oil prices rose. Among financials, shares of Dutch insurer and pensions group Aegon NV soared 10.1% after reporting a surprise increase in first-quarter net profit.

The sector also got a lift from UniCredit after the Italian lender reported a 13% increase in first-quarter net profit, beating the consensus forecast of analysts polled by Dow Jones Newswires. Its shares rose 6.8%.

Peripheral markets such as Italy's led Europe higher: The FTSE MIB Italy index rose 1.7% to 14,004.9. In Spain, a move by the government late Wednesday to take a 45% stake in Bankia SA, effectively nationalizing the troubled lender, caused the IBEX 35 to rally.

The index rose 3.2% to 7,034, more than reversing a 3% tumble in the prior session on banking-sector worries. Bankia's shares closed 0.3% lower.

Shares of BBVA SA soared 6% and Banco Santander SA jumped 5.6%. Meanwhile, shares of oil major Repsol SA soared 8.2% after reporting improved first-quarter profit driven by higher oil prices.

The government is expected to announce a cleanup of its banking sector Friday. Greece's Athens General Index surged 4.2% to 640.91. Shares of National Bank of Greece SA surged more than 12%.

Late Wednesday, the European Financial Stability Facility said Greece will get most of its next aid tranche on schedule despite political turmoil in the country.

Political uncertainty remained as Evangelos Venizelos, leader of the Socialist party, took his turn attempting to form a government after last weekend's splintered parliamentary election results.

Elsewhere, the French CAC 40 index ended 0.4% higher at 3,130.17. Shares of LVMH Moet Hennessy Louis Vuitton and L'Oreal SA both shed 1.7%. Pernod Ricard SA dropped 0.6% and Danone SA gave up 0.8%.

Among gainers, Peugeot SA rose 8.1% after a broker upgrade. London's FTSE 100 index rose 0.3% to close at 5,543.95, supported by a 1% advance for HSBC Holdings PLC and gains for mining stocks such as Rio Tinto PLC, up 0.7%.

The German DAX 30 index gained 0.7% to 6,518, led by a 2.7% rally for Deutsche Bank AG and a 1% advance for Allianz SE. Shares of Deutsche Telekom AG surged 3% after first-quarter profit topped estimates.

ASIA-PACIFIC STOCK MARKETS

Asian markets edged lower after disappointing China trade data, while India's rupee rallied after the government imposed foreign-exchange restrictions aimed at halting the currency's recent slump.

The Nikkei fell 0.4% to 9009.65 after earlier dropping below 9000 for the first time since February.

Continuing the trend of Japanese companies offering healthy forecasts, Toyota Motor Corp rose 0.8% after it released operating profit guidance of Y1 trillion for the year ending March.

Korea's KOSPI fell 0.3% to 1944.93, Hong Kong's Hang Seng Index was down 0.5% at 20227.28 and China's Shanghai SE Composite closed flat at 2410.23.

Although ongoing coalition talks in Greece and the high cost of Spanish borrowing remained a concern, markets struggled to find a direction in early trade but then fell after China posted a wider trade surplus due to weak imports, reflecting sluggish performance in the world's second biggest economy.

China will release more data on Friday, including industrial output, retail sales, and inflation figures.

In China, brokerages were among the most active gainers, benefiting from bargain hunting after suffering sharp losses earlier in the week.

Sinolink Securities was up 1.4% at CNY14.36 and Huatai Securities was up 0.8% to CNY10.12. Medical equipment, machinery and furniture stocks were also did well, as investors rotated holdings during a bout of market consolidation.

Lepu Medical Technology was up 3.7% at CNY14.99 and Changsha Sinocare gained 2.9% to CNY39.90. In Hong Kong, China-related financial shares were the among the day's biggest blue-chip decliners.

Bank of Communications was down 0.9% at HK$5.53, while Ping An Insurance was down 0.5% at HK$61.70. Cathay Pacific Airways Ltd. fell 6.3% after warning late Wednesday that first-half financial results will be "disappointing" as high fuel costs persist, prompting the airline to cut flights and seek cost cuts.

COMMODITIES

Base metals closed mixed on the London Metal Exchange Thursday, stabilizing in line with stock markets and the euro after U.S. jobless data came in lower than expected and signs emerged that Greek leaders could form a government and shore up its commitment to remain in the euro zone.

At the close, LME three-month copper was 0.6% higher at $8,100 a metric ton, while zinc closed 1.3% higher at $1,969/ton. U.S. crude oil futures settled modestly higher Thursday, snapping a six-day losing streak that slashed prices by 8.8% to three-month lows.

Light, sweet crude oil for June delivery on the New York Mercantile Exchange settled 27 cents higher, at $97.08 a barrel. ICE June North Sea Brent crude settled 47 cents lower, at $112.73 a barrel, matching Tuesday's price, which was the lowest since Feb. 2.

Traders said the pause in the downfall came amid light volume and position adjustments by commodity funds, which normally roll their holdings into the forward contracts around this time of the month.

Gold futures eked out a slight gain, rising for the first time this week as relative calm in Europe drew buyers back to the precious metal after a three-day selloff. The most-actively traded gold contract, for June delivery, rose $1.30, or 0.1%, to settle at $1,595.50 a troy ounce on the Comex division of the New York Mercantile Exchange