As the focus shifted to the current week's profitable number posted by major world economies, and Dubai's debt woes took a backseat, major stock markets all over the world ticked higher on Wednesday. The European Central Bank's meeting to discuss rates also helped take the focus off Dubai's financial troubles.

All main stock indicators recorded a hike of more than 1%, including the Dow Jones Index, which managed to add 126 points and traded at above 10,500 points for the first time in over a year.

"After Tuesday's bounce back it's no real surprise investors are taking a breather today with little about to inspire fresh direction. All eyes are now focused on Friday's U. S. jobs report as the Dubai drubbing fades into the memory", said Mic Mills, senior trader at ETX Capital.

Analysts from all over have reported an overall upbeat economy in all major world destinations as well as profitable market reports on the back of easing worries about Dubai's economic fall-out. The easing of concerns has given the investors, who chose to flee the markets last week, a reason to come back.

While Dow hiked by 1.2%, S&P recorded a 1.2% rise as well. Germany's VDAX-NEW volatility index fell by 2%, indicating that people's willingness to take risks in the market managed to revive. Bond prices also indicated higher yields.