Stock Market: World Shares Gain After Wall Street Rally

India's Sensex gained 1.2 per cent, the S&P 500 jumped 1.8pc while the Dow industrials gained 1.7pc, the Nasdaq composite index rallied 2.2pc

European shares opened little changed and Asian shares were mostly higher Monday after a widespread rally on Wall Street partly spurred by Apple's report of better profit than expected.

Tokyo's benchmark fell while markets in China advanced. U.S. futures were flat and oil prices rose.

A report Friday showed hiring accelerated across the economy by much more than expected last month. The government's jobs report also showed workers won bigger pay raises than expected.

Such trends helped calm worries that a recession is looming, even as time grows short on reaching an agreement on the U.S. government debt ceiling, Stephen Innes of SPI Asset Management said in a commentary.

"But anxiety is building early this time and shifted into high gear last week after Secretary Yellen warned that a default could occur as soon as June 1," he said.

Early Monday, Germany's DAX was unchanged at 15,962.77 while the CAC 40 in Paris edged 0.1% higher, to 7,437.81. Markets in Britain were closed for a holiday.

The future for the S&P 500 was nearly unchanged while the contract for the Dow Jones Industrial Average edged 0.1% higher.