08.03.201307:03:17UTC+00Global shares rise, dollar at new peak versus yen before jobs data

World shares hit their highest level since June 2008 and the dollar touched a fresh 3-1/2-year high against the yen on Friday, ahead of U.S. jobs data expected to point to a continuing pick up in the world's biggest economy.

China also gave markets a boost as official data showed February exports grew 21.8 percent versus a year ago, more than double the expected rise.

European shares which have rebounded strongly this week after last week's Italian election and U.S. spending cuts-related wobble, opened up 0.5 percent. That put them on track for their biggest gains since the opening week of the year.

In Asian trading Japan's Nikkei had hit a 4-1/2 year high and the 0.5, 0.6 and 0.5 opening rises by London's FTSE 100 .Paris's CAC-40 and Frankfurt's DAX helped MSCI's world share index .MIWD00000PUS to its highest level since late June 2008.

"There appears to be a strong risk-on mood in the market at the moment," said Ken Wattret, co head of European market economics at BNP Paribas.

"The negativity from the Italian elections was shrugged off pretty quickly, the Fed has made it clear that its policy will remain accommodative. If we get a get a good set of payrolls numbers, that will further fuel that sentiment."

In the currency market, a sudden spike in tensions between North and South Korea added to the broader U.S. growth-led demand for the dollar.

The euro eased 0.1 percent, but clung to the bulk of the gains made the previous day, after the European Central Bank wrong-footed investors who had positioned for a more clear-cut signal on rate cuts from its head Mario Draghi.