Australia shares up 1.1 pct on global recovery bet

(Adds comments, stocks on the move)

MELBOURNE, Nov 6 (Reuters) - Australian stocks advanced 1.1 percent on Friday, boosted by solid company earnings and better economic news that sparked a rally on Wall Street.

Trading has been volatile this week with investors seizing on each piece of new U.S. data for clues on the strength of the recovery there and the implications for global growth.

"The market is running on raw emotion at the moment," said E.L. & C. Baillieu Stockbroking head analyst Ivor Ries, pointing to the stronger-than-expected U.S. jobless claims figures on Thursday.

"It is very choppy, sentiment driven. You've got a lot of nervous offshore investors sitting on huge profits. The first bit of bad news in a global macro sense and they sell Australia, and vice versa," he said, noting the same offshore institutional investors were buying back in on Friday.

The local market has surged 75 percent this year in U.S. dollar terms, he added.

The benchmark S&P/ASX index <.AXJO> rose 55 points to 4,563.0 at 0011 GMT, after losing 0.7 percent on Thursday.

New Zealand's benchmark NZX 50 index <.NZ50> rose 0.6 percent to 3,163.3.

STOCKS ON THE MOVE

* Upmarket department store retailer David Jones Ltd <DJS.AX> lifted 4.6 percent to A$5.43 after positive broker comments on its quarterly sales results.

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* Australian toll road operator Transurban Group <TCL.AX> jumped another 6.1 percent to A$5.56 after soaring nearly 20 percent on Thursday, when it rejected a $4.4 billion buyout approach from two Canadian pension funds, but left the door open to a better offer. [ID:nSYD544423]

2355 GMT

* Respiratory equipment maker ResMed Inc <RMD.AX> rose 2.2 percent to A$5.52 after it reported better-than-expected quarterly profit that jumped 50 percent [ID:nSYD387849]

2353 GMT (Reporting by Victoria Thieberger; editing by Jonathan Standing)