A look at economic developments and activity in major stock markets around the world Wednesday:

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BRUSSELS — The first order of business at European Union summits these days often is not the continent's dreadful financial crisis. It's getting to know the people around the table.

The group of leaders that will meet this week in Brussels is a much different crew from the one that met in October 2009, when the crisis in Europe first erupted with the news that Greece was in deep trouble.

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BERLIN — German Chancellor Angela Merkel brushed aside the latest push to pool European debt, arguing it would be "economically wrong and counterproductive" to make such a move before governments can be made to comply with budget rules.

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MADRID — Spain insisted it will continue to push for European financial aid to be delivered directly to its troubled banks, rather than to the government. The fear has grown that the government may be ultimately left to repay many of the banks' rescue loans and need a bailout of its own. As a result, investors are now demanding high interest rates to lend Spain money.

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ROME — Italy's borrowing costs on its six-month bills jumped to their highest level since December in the face of reported German opposition to Premier Mario Monti's call for joint action to ease Europe's debt crisis.

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LONDON — Upbeat U.S. economic figures helped European stocks rise, though investors remained skeptical that European leaders would agree to any meaningful debt crisis solutions at their summit later this week.

Germany's DAX rose 1.5 percent, the CAC-40 in France rose 1.7 percent and the FTSE 100 index of leading British shares ended 1.4 percent higher.

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TOKYO — Earlier in Asia, Japan's Nikkei 225 gained 0.8 percent, Hong Kong's Hang Seng rose 1 percent and South Korea's Kospi was nearly unchanged.

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BUENOS AIRES, Argentina — One of Argentina's largest unions is staging a general strike in a challenge to President Cristina Fernandez. So far, the effect has been limited. There are a series of protest demonstrations, but business in and around the capital of Buenos Aires seems to be almost normal.

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BRASILIA, Brazil — Brazil's government is announcing a new, $4 billion economic stimulus package to combat stagnant growth.

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