Share markets rise in volatile trading

US and European shares have both close in upward trend, but there is fear continue over eurozone debt.

Wall Street's main Dow Jones index was risen 3.3% in early afternoon trading on Wall Street, helped by data showing a fall in the unemployment claimants.

In Europe, indexes closed positive after French President Nicolas Sarkozy and German Chancellor Angela Merkel said they would meet to discuss eurozone financial governance.

The UK's FTSE 100 closed positive 3.1%.

Germany's Dax added 3.3% and France's Cac also close positive 2.5%.

A statement from President Sarkozy's office said he and Ms Merkel would also discuss "other international issues".

French banking sector shares had started Thursday among the higest gainers, with Societe Generale shares up 8%. The bank's shares then plunged as far as 8% down on the day, before recovering to finish positive 3% higher.

It comes a day after Societe Generale denied negative speculation about its financial health.

The US unemployment data showed that the weekly number of people claiming benefits had fallen to 395,000, the first time it had dropped below 400,000 since April.

This also lifted the two other main US share indexes, with the Nasdaq up 3.8% and the S&P's 500 adding 3.6%.

'Irrational fears' Mr Sarkozy held emergency talks with senior ministers on Wednesday when France became the centre of market turbulence on rumours that the country was about to lose its AAA credit rating, and the concern about

Stocks Bounce Around After U.S. Jobs Report

U.S. stocks down again Friday after a morning of up-and-down trading.

Major market indexes were falling as traders threatened on fears that European leaders will not able to contain a spreading financial crisis. Many fear that officials lack the tools to rescue Italy or Spain if one of those countries defaults before a larger bailout fund is in place.

Shares was going up early Friday after the government said hiring picked up slightly in July. The rally started  less than half an hour.

Shortly after noon, the Dow was down 191 points, or 1.7 percent, at 11,191. The S&P 500 was down 26 points, or 2.3 percent, at 1,172. The Nasdaq composite was down 83, or 3.2 percent, at 2,475.

The Dow fell 512 points Thursday, its worst day since 2008.

European leaders are calling emergency meetings and seeking to reassure markets that a large nation such as Italy or Spain won't become the latest country in the region to need a financial backstop.

A U.S. government report that  improved in July sent stocks sharply higher just after the market opened. The Dow Jones industrial average raised as many as 171 points but gave up those losses by midmorning. An hour after the opening bell, the Dow was down 7 points.

The economy added 117,000 new jobs in July, and hiring in May and June were not as bad as reported previously, the Labor Department reported. The unemployment rate inched down to 9.1 percent from 9.2 percent, partly because some unemployed workers stopped looking for work. Health care providers and manufacturers added jobs in US Economy.

The  report failed to lift the spirits of traders a day after the Dow plunged 513 points. It was the worst day for the Dow since the financial crisis of 2008.

In late-morning trading the Dow was fall 42 points, or 0.37 percent, at 11,341. The S&P 500 was down 5 points, or 0.5 percent, at 1,194. The Nasdaq composite was down 21 or 0.8 %, at 2,535.

Overseas markets also fell. Tokyo, Hong Kong and China, India, Pakistan all closed down 4 percent. Taiwan lost 6 percent. In Europe, shares recovered some of their losses after plunging to their lowest levels in more than a year. Germany's DAX fell 1.4 percent. Other indexes showed smaller losses.