* Global stocks edge higher as EU renews lifeline pledge
* Euro rises versus dollar on Greece bailout speculation
* Treasuries slip as market consolidates after auction
* Oil dips, but U.S. retail sales spur optimism
(Updates with opening of U.S. markets, adds byline, dateline)
By Herbert Lash and Dominic Lau
NEW YORK/LONDON, April 9 (Reuters) - Global equity markets
rose and the euro strengthened against the dollar on Friday as
speculation grew that Greece will obtain aid to help resolve
its debt crisis and optimism rose on buoyant U.S. data.
Markets took a break from beating up Greek government bonds
but yields remained elevated amid concerns over the country's
debt even as it appeared Greece might ask the International
Monetary Fund for help. For details see; []
Fitch Ratings cut Greece's credit ratings by two notches,
citing the fiscal challenges ahead for the country. The Fitch
news came just as a European Union source said euro zone
officials reached a deal on terms of possible loans to Greece.
European shares rebounded from steep losses on Thursday,
when yields on euro-denominated Greek bonds hit lifetime highs,
after EU President Herman Van Rompuy was quoted earlier as
saying that the EU stood ready to help Greece if asked.
[]
The euro gained as speculation grew that Greece will resort
to an EU-IMF lifeline to alleviate its ballooning debt. The
Greek finance minister, however, said Athens will not seek the
EU-IMF aid mechanism that European leaders agreed on in March.
"It seems to be a risk-on day and the markets are tending
to look at the more optimistic side of things," said Samarjit
Shankar, managing director of global FX strategy at BNY Mellon
in Boston.
The euro <EUR=> gained 0.5 percent versus the dollar at
$1.3428. Global equities measured by MSCI's All-Country World
Index <.MIWD00000PUS> rose 0.9 percent, snapping a two-day
losing run.
Speculation about Greece lifted sentiment that already was
in a better mood after Thursday's surprisingly strong data on
same-store sales in March, which reflected rising U.S. consumer
demand.
The Dow Jones industrial average <> was up 15.49
points, or 0.14 percent, at 10,942.56. The Standard & Poor's
500 Index <.SPX> was up 1.64 points, or 0.14 percent, at
1,188.08. The Nasdaq Composite Index <> was down 1.29
points, or 0.05 percent, at 2,435.52.
U.S. Treasuries prices fell as rising equity markets and
signs of stabilization in Greece's debt financing struggle
tarnished the luster of safe-haven U.S. government debt.
[]
The benchmark 10-year U.S. Treasury note <US10YT=RR> was
down 7/32 in price to yield 3.92 percent.
Oil dipped after trading around $86 a barrel on the strong
retail sales, which lifted expectations for sustained U.S.
energy demand growth. []
U.S. light sweet crude oil <CLc1> fell 11 cents to $85.28 a
barrel.
The dollar was down against a basket of major currencies,
with the U.S. Dollar Index <.DXY> down 0.40 percent at 81.204.
Against the yen, the dollar <JPY=> was up 0.12 percent at
93.49.
Gold rose to three-month highs in Europe as concern over
the fiscal outlook for peripheral euro zone economies boosted
safe haven flows into the precious metal. []
Spot gold prices <XAU=> rose $5.56 to $1155.70 an ounce.
Copper rose, flirting with the key $8,000 level, on the
retail sales data and a bet that top consumer China may soon
revalue its currency. []
(Reporting by Wanfeng Zhou, Ellen Freilich in New York; Brian
Gorman, Emma Farge, Maytaal Angel and Kirsten Donovan in
London; writing by Herbert Lash; Editing by Padraic Cassidy)
