DJI-NEW YORK, Nov 11 (Reuters) - Global equities surged about 2 percent and the euro rallied against the dollar on Friday after an Italian vote on economic reforms eased fears that its debt burden would jeopardize the euro zone's future.
Italy has become the focus of a still uncontained crisis that pushed bond yields of the region's third-largest economy sharply higher this week. Investors feared Italy, the euro zone's third largest economy, could be the next country in the 17-member region to need a bailout.
The Dow Jones industrial average <.DJI> closed up 259.89 points, or 2.19 percent, at 12,153.68. The Standard & Poor's 500 Index <.SPX> rose 24.16 points, or 1.95 percent, at 1,263.85. The Nasdaq Composite Index <.IXIC> gained 53.60 points, or 2.04 percent, at 2,678.75.
NYMEX-NEW YORK, Nov 11 (Reuters) - U.S. crude oil futures settled at their highest level in 15 weeks on Friday as investors cheered efforts by Italy and Greece to tackle their political and debt problems, and on positive U.S. consumer sentiment.
U.S. crude rose for the seventh time in eight days as the developments in Europe pushed the euro to two-week highs against the dollar, further encouraging risk trade in equities and commodities.
On the New York Mercantile Exchange, December crude settled at $98.99 a barrel, up $1.21, or 1.24 percent, highest for a front-month contract since July 26. It gained $4.73 or 5.02 percent for the week and extended gains for a sixth straight week.
CBOT-SOYBEANS,Soybean futures on the Chicago Board of Trade fell for a second day, setting a fresh one-month low as a sluggish pace of U.S. export sales prompted traders to liquidate long positions, brokers said.
USDA reported export sales of U.S. soybeans in the latest week at 606,800 tonnes (new and old crop years combined), slightly above trade estimates for 400,000 to 600,000.
FCPO-SINGAPORE, Nov 11 (Reuters) - Malaysian palm oil futures climbed to a their highest in more than three months on Friday, buoyed by a strong demand and a surprise drawdown in stocks.
Palm oil prices recorded a third straight week of gains on expectations of low output in the coming months as oil palm trees enter lean output phase.
Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange settled up 0.51 percent at 3,135 ringgit ($994.76), after climbing to as high as 3,160 ringgit, a level unseen since July 21.
REGIONAL EQUITIES-BANGKOK, Nov 11 (Reuters) - Some Southeast Asian stock markets edged up on Friday, helped by selective buying in medium-caps that have favourable earnings, but sentiment in the region broadly remained dominated by fears related to the euro zone's debt problems.
Markets in the region had another relatively subdued session but some investors bought back shares to cover short positions taken during the more bearish news flows out of Europe.
Singapore-listed commodities firm Noble Group gained as much as 4.2 percent after losting more than a quarter of its value the day before as the departure of its chief executive and first quarterly loss in more than a decade spooked investors.
Singapore's Straits Times Index <.FTSTI> edged up 0.14 percent on the day, the Thai index <.SETI> was up 0.3 percent and Philippine shares <.PSI> ended up 0.7 percent. Indonesia <.JKSE> and Malaysia <.KLSE> posted limited losses.
