* Wall Street flat after retail sales, sentiment data
* Safe-haven bonds pare some gains on sentiment survey
* Dollar gains vs yen, slips a tad vs euro after data
* Oil pares losses, trades near $75 after U.S. data
(Adds open of U.S. markets; change byline dateline; previous
LONDON)
By Herbert Lash and Dominic Lau
NEW YORK/LONDON, June 11 (Reuters) - World stocks marched
higher on Friday after a strong reading of U.S. consumer
sentiment eased jitters over an unexpected drop in U.S. retail
sales that had lifted the safe-haven price of bonds and gold.
The U.S. dollar edged up against the yen and U.S. stocks
trimmed losses after consumer sentiment improved in early June
to its strongest level since March 2008, the Thomson
Reuters/University of Michigan's Surveys of Consumers said. For
details see: []
The report lifted the mood of investors after data showing
poor U.S. retail sales in May raised doubts about the strength
of recovery and took the wind out of four-day relief rally in
world stocks.
"It's a good number and could provide reassurance after the
retail sales number, which was particularly weak," Nigel Gault,
chief U.S. economist at IHS Global Insight in Lexington,
Massachusetts, said about the consumer survey.
Oil prices had slipped below $74 a barrel and copper
retreated from one-week highs on news of the retail sales data,
but crude prices pared some losses to trade above $75 a barrel.
Benchmark copper for three-month delivery <CMCU3> reversed
course to trade up about 1 percent in London.
MSCI's all-country world equity index <.MIWD00000PUS>
rebounded to trade 0.5 percent higher, helped by a rally in
European markets.
But the Dow and broad-market S&P 500 hovered near
break-even, even as the technology-rich Nasdaq rose.
"We had a nice one-day advance yesterday, and this will
kind of relieve some of the pressures," said Steve Goldman,
market strategist at Weeden & Co. in Greenwich, Connecticut.
"I think the (stock) market is looking for reasons to
stabilize, and this provides some of that," said Goldman.
The Dow Jones industrial average <> was down 4.61
points, or 0.05 percent, at 10,167.92. The Standard & Poor's
500 Index <.SPX> was up 0.98 points, or 0.09 percent, at
1,087.82. The Nasdaq Composite Index <> was up 14.83
points, or 0.67 percent, at 2,233.54.
Bond prices trimmed some of their earlier gains after the
retail sales report.
The benchmark 10-year U.S. Treasury note <US10YT=RR> was up
11/32 in price to yield 3.28 percent. It had earlier traded up
18/32.
Markets earlier were buoyed after Belgium, Portugal and
Spain found good demand for their bonds this week. Italy also
carried out a successful sale on Friday, easing immediate
concerns about funding problems on the euro zone periphery and
boosting appetite for the euro <EUR=> and banking shares.
Investors also found optimism in China's growth, even
though fresh data showed inflation in the world's third-largest
economy quickened to a 19-month high in May while its factory
output and capital spending moderated. []
The dollar rose to 91.66 yen <JPY=>, while the the euro
<EUR=> was up 0.02 percent at $1.211.
Against the yen, the dollar <JPY=> was up 0.33 percent at
91.66.
U.S. light sweet crude oil <CLc1> fell 53 cents, or 0.7
percent, to $74.95 a barrel.
Spot gold prices <XAU=> rose $6.35, or 0.52 percent, to
$1,223.60.
Earlier in Asia, the MSCI index of Asia Pacific ex-Japan
stocks <.MIAPJ0000PUS> rose nearly 1.6 percent. Japan's Nikkei
average <> climbed 1.7 percent, helped by a halt in the
yen's advance against the euro <EURJPY=R>.
(Reporting by Steven C. Johnson and Burton Frierson in New
York; Emma Farge, Jan Harvey and Michael Taylor in London and
Lucia Mutikani in Washington; writing by Herbert Lash)
