U.S. stocks rose Friday, posting gains on each day of the week amid hopes that Europe's debt crisis won't spiral out of control. Friday, the Dow Jones Industrial Average gained 75.91 points, or 0.7%, to 11509.09, and finished the week up 4.7%. The index notched its best weekly performance since the week ended July 1 and is within 69 points of breaking even for the year. Procter & Gamble led blue chips higher Friday, rising $1.55, or 2.5%, to 64.33, while Intel gained 43 cents, or 2%, to 21.97. But financials kept the gains in check on concerns about how Europe's debt crisis will affect bank stocks. Weighing on the downside were Bank of America, which dropped 10 cents, or 1.4%, to 7.23, and J.P. Morgan Chase, which declined 38 cents, or 1.1%, to 33.43. Euro-zone finance ministers meeting in Poland were trying to find common ground and ease market tensions caused by the region's escalating sovereign-debt problems. U.S. Treasury Secretary Timothy Geithner also urged them to overcome damaging divisions and remove catastrophic risk from markets. The Standard & Poor's 500-stock index rose 6.90 points, or 0.6%, to 1216.01. Telecommunication, utility and consumer-discretionary stocks were the day's biggest advancers. The index finished the week up 5.4%. The Nasdaq Composite gained 15.24 points, or 0.6%, to 2622.31, and ended the week up 6.3%. The technology-oriented index registered its biggest weekly percentage gain since July 2009.

European stocks ended higher for a fourth day but closed below their highs for the session as investors watched a meeting of European finance ministers in Poland for clues as to how they intend to tackle the region's ongoing debt crisis. The Stoxx Europe 600 index rose 0.6% to close at 230.16. It had rallied 2% in the previous session in response to news that major central banks will pump dollars into Europe's banking system in an effort to aid banks. Banks led the gains again Friday. Barclays PLC traded up 3.4% in London, while Deutsche Bank ended 0.8% higher in Frankfurt. The DAX 30 index ended 1.2% higher at 5573.51 and London's FTSE 100 index rose 0.6% to close at 5368.41. In Paris, the CAC 40 index fell 0.5% to settle at 3031.08. The moves came as euro-zone finance ministers met in the Polish city of Wroclaw to try to heal the rifts that have undermined efforts to resolve Europe's sovereign-debt crisis. Luxembourg Prime Minister Jean-Claude Juncker said at a news conference Friday from Poland that a decision over the next payment of aid to Greece will be made in October. He also said ministers "made progress" on a dispute over Finland's insistence that it receive collateral for funds it would supply as part of a second Greek bailout. Meanwhile, U.S. Treasury Secretary Timothy Geithner, who attended the talks in Poland, reportedly urged European policy makers to avoid loose talk about a potential breakup of the euro zone and urged them to leverage the region's EUR440 billion bailout fund, the European Financial Stability Facility, to increase its firepower. However, Germany's ruling coalition government Friday delayed discussing the European Stability Mechanism, a fund that will take the place of the EFSF in mid 2013, due to divisions within its Cabinet. The move makes it unlikely the legislation will be voted on by parliament before the end of the year. In Switzerland, shares of UBS bounced back, rising 5.2% a day after the company announced it had discovered unauthorized trading in its investment bank division. The news hit UBS shares hard on Thursday. Moody's Investors Service and Standard & Poor's Ratings Services each put the bank on review for a credit-rating downgrade, while Fitch Ratings placed what it called UBS's viability rating on review for a reduction. Away from financial services, shares of E.On jumped 3.5% after J.P. Morgan Cazenove upgraded the German electricity utility to overweight from neutral. Chip maker ARM Holdings fell 2.5% in London after Research In Motion reported disappointing results late Thursday.

Asian stock markets climbed sharply Friday, with exporters and financials among the best performers, as news of central banks' plan to boost dollar liquidity in Europe helped ease concerns there about another funding crisis. South Korea's Kospi jumped 3.7% to 1840.10, Japan's Nikkei Stock Average closed 2.3% higher at 8864.16, Hong Kong's Hang Seng Index was up 1.4% 19455.31, and the Shanghai Composite Index rose 0.1% to 2482.34. India's Sensitive Index rose 0.3% to 16933.83. The European Central Bank, the Bank of England, the Bank of Japan, the Swiss National Bank and the U.S. Federal Reserve said Thursday that they will provide extra dollar liquidity to commercial banks. Concerns over Europe's troubles appeared to recede Friday after news of the central banks' moves followed a pledge made earlier in the week by Germany and France to support Greece as it struggles to cut its debt pile. Exporters gained, with Pioneer up 6.5%, Nikon up 5.4%, and Sony up 4.3% in Japan. Li & Fung rose 3.5% in Hong Kong. In Seoul, Hyundai Motor gained 4.8%, Kia Motors rose 3.7%, and LG Electronics added 3.3%. Banks were also higher, with Nomura Holdings up 5.5%, Mitsubishi UFJ Financial Group up 4.6% and Sumitomo Mitsui Financial Group up 4.1% in Japan. In Hong Kong, Agricultural Bank of China jumped 5.8% and HSBC Holdings PLC added 3.1%. Resource stocks also showed strength, as improving economic sentiment encouraged the prospects for energy demand. Jiangxi Copper rose 3.6% and China Coal Energy gained 2.6% in Hong Kong.

Base metals closed the week mostly lower on the London Metal Exchange Friday as equity markets pared earlier gains and metal investors remained cautious of making any bold moves amid an unclear macroeconomic picture. At the close, LME three-month copper was 0.2% lower at $8,696 a metric ton. Aluminum was the only metal of the complex to finish the session in positive territory, closing 0.2% higher at $2,379.50/ton. Oil futures prices tumbled 1.6% Friday, unable to sustain a breach above $90 after flirting with the level during the week. Light, sweet crude for October delivery dropped $1.44 to settle at $87.96 a barrel on the New York Mercantile Exchange. Brent crude for November delivery also lost ground on the ICE Futures Europe exchange, dropping 8 cents, or 0.1%, to $112.22 a barrel. Lower Friday volume and traders closing out positions ahead of the weekend made for a volatile session, with prices down as much as 2.6% at one point before recovering somewhat. Traders said seesawing U.S. equities markets, continuing uncertainty about euro-zone sovereign debt and a strengthening dollar were behind the pullback and contributed to the price swings. Gold climbed as investors viewed the previous day's drop to three-week lows as a buying opportunity and Europe's debt crisis still underpinned demand for the metal as a safe haven. The most actively traded gold contract, for December delivery, rose $33.30, or 1.9%, to settle at $1,814.70 a troy ounce on the Comex division of the New York Mercantile Exchange.