The MSCI world equity index, which tracks shares in 47 countries, climbed 0.4 percent, while shares in Europe jumped 1.6 percent to a two-week high.
Cyclical sectors including basic resources, autos and banks, hit particularly hard over the past two sessions in Europe, led gains.
Sentiment was lifted as Washington expressed a willingness to negotiate, after proposed U.S. tariffs on $50 billion of Chinese goods prompted swift retaliation from Beijing.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent, a day after it hit its lowest in almost two months.
Japan's Nikkei ended 1.5 percent higher. Markets in mainland China, Hong Kong and Taiwan were closed for the Tomb Sweeping Day holiday on Thursday.
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