European shares closed slightly higher in a shortened final trading session of 2009 as the region wrapped up its best trading year in a decade.

The Russian aluminum giant's initial public offering documents also offer a glimpse into the company and at billionaire Oleg Deripaska.

Asian stock markets ended mostly higher Thursday, but investors were finishing the year with more of a whimper than a bang, as activity was thin with many markets shut or on shortened trading sessions.

Most major Asian share markets closed higher, with the Chinese market spurred by Premier Wen Jiabao's comments over the weekend indicating the government won't rush to unwind its stimulus policies.

The Nikkei on Friday fell 42.21 points, or 0.4%, to 10494.71, snapping a three-day winning streak.

Tokyo stocks fell as exporters like Toyota and Canon succumbed to profit-taking after leading the market's recent rally, while volume fell due to the Christmas holiday.

European shares posted mild gains in holiday-shortened trade, allowing both the French and U.K. markets to close at fresh annual highs ahead of the Christmas break.

Asian markets were mostly higher, with Japan's Nikkei closing up 1.5%, finishing at its highest level since September lifted by gains in technology stocks and export-related shares as the yen was relatively weak against leading currencies.

The chief of Allied Irish said the bank needs to raise more capital within the next year and that the level of capital required will be decided over the next three to six months.

London's FTSE index is now up 21% for the year-to-date.

European shares climbed to 14-month highs, as banks and miners led the way amid rising confidence that the economy will continue to recover.

Greece was slapped with the third ratings downgrade on its sovereign debt in a month, but the move was less severe than expected, prompting a rally in the country's stock and bond markets.