Asia, Europe Markets Post Gains

By Jeremiah Marquez

HONG KONG -- Global stock markets recovered Wednesday as better-than-expected U.S. data gave investors hope of a turnaround in the world's largest economy and helped offset their fears of a swine flu pandemic.

After two days of declines, several major markets in Asian and Europe posted broad-based gains. Airline stocks, slammed in recent days amid worries about the disease's toll on travel, rebounded sharply around Asia. The dollar strengthened against the yen, while oil prices were steady.

Investors were cheered after a closely watched measure of U.S. consumer confidence soared in April, suggesting Americans may be ready to spend again -- a boon for export-driven Asian countries. An easing in the pace of home price declines also boosted sentiment. ...