European stock markets closed little changed Friday while Wall Street advanced modestly at the end of a week when stocks shot higher amid mounting optimism about the global economic recovery. Chinese shares outperformed all other major markets as traders returned to their desks following a weeklong holiday.
Meanwhile, the U.S. dollar spiked higher, particularly against the yen, after U.S. Federal Reserve chairman Ben Bernanke spoke about the need _ eventually _ to raise interest rates to counter potential inflationary problems and figures showed the U.S. trade deficit narrowed by more than anticipated during August as exports rose and imports fell.
In Europe, …
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