On Thursday European stocks rose after the U.S. Federal Reserve signaled interest rates will remain low and metal prices advanced on bets Chinese demand will escalate, boosting confidence in a global economic recovery. U.S. futures climbed and Asian shares fell.

The pan-European FTSEurofirst 300 index of top shares was up 0.4 percent at 1,134.90 points after gaining 0.4 percent in the previous session as investors bought into commodity and technology stocks.

Commodity trader Glencore opened at 548 pence, more than 3 percent above the debut price of 530 pence in grey market trading, helping to boost commodities. Traders said the Glencore IPO was a success because the backdrop for commodities was still positive, despite the recent sell-off, and long-term demand remained for China.

Mining stocks featured among the top performers, with the STOXX Europe 600 Basic Resources index rising 0.7 percent.

Oil stocks were also higher, with the STOXX Europe 600 Oil & Gas index rising 1 percent.

Across Europe, the FTSE 100 index was up 0.5 percent, Germany's DAX rose 0.6 percent and France's CAC 40 was 0.4 percent higher.

Asian stocks dropped, with the key regional index reversing earlier gains, after Japan reported its economy shrank more than estimated last quarter and Gartner Inc. said Samsung Electronics Co.’s mobile-devices market share fell. The Nikkei 225 Stock Average dropped 0.4 percent. Japan’s economy shrank an annualized 3.7 percent in the three months through March as the March 11 earthquake and tsunami disrupted production and prompted consumers to cut back spending. The economy shrank a revised 3 percent in the previous quarter, sending the nation to its third recession, defined by economists as two consecutive quarters of contraction, in a decade.

This article was compiled by Valletta Fund Management Limited, a member of the BOV Group. Valletta Fund Management,

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