GLOBAL MARKETS-Euro surges on Greek aid, stocks climb

                                
 * Euro in sharpest daily rally in 2 months on Greek aid
plan
                                
 * Euro zone rescue package whets demand for riskier assets
                                
 * Asia shares up at 22-month highs; U.S. stock futures rise
                                
 * Commodities firm; gold at four-month high
                                
 By Koh Gui Qing
                                
 SYDNEY, April 12 (Reuters) - The euro posted its sharpest
daily gain in two months on Monday and Asian stocks hit
22-month highs after a giant emergency aid plan for Greece
boosted demand for riskier assets across the board.
                                
 In what may be the biggest multilateral financial rescue
ever, the euro zone and the IMF threw debt-laden Greece a
lifeline over the weekend by pledging at least 40 billion euros
($54 billion) in aid, though Athens has yet to activate it.
[ID:nLDE63A0BO]
                                
 The euro <EUR=> jumped 1.3 percent to $1.3665 as investors
reversed their short positions in the currency. It looked set
to test $1.3817, its March 17 high, after breaching its 55-day
moving average at around $1.3637.
                                
 The size of the rescue plan, which was on the high side of
market expectations, eased worries about Greece defaulting on
its debt in the near term and creating a domino effect on other
countries with deep fiscal problems.
                                
 Investors have feared that Greece's debt crisis and fiscal
weakness elsewhere in Europe could threaten a steadily healing
global economy. Data last week showed euro zone growth stalled
in the fourth quarter last year, though other surveys showed it
may have regained traction in recent months. [ID:nLDE63617S]
                                
 A raft of Chinese economic data due this week could add
further evidence that the global rebound is picking up steam.
China will release its first-quarter GDP report, with analysts
forecasting growth of 11.5 percent from a year ago. <ECONCN>
                                
 "We have a perfect recipe today: the news from Greece, Wall
Street is positive and, together with the M&A activity,
investors are encouraged to take risks," said Chris Weston, a
dealer at IG Markets in Sydney, referring to takeover activity
in Australia.
                                
 Asian stocks, which had managed to grind higher in recent
weeks despite uncertainty about Greece's fiscal health, got a
boost from the relief rally as well.
                                
 A strong performance on Wall Street on Friday also lent
support after the Dow Jones industrial average <.DJI> crossed
the 11,000 market for the first time in a year and a half. [.N]
                                
 The MSCI index for Asian stocks outside Japan
<.MIAPJ0000PUS> climbed 0.5 percent to levels last seen in June
2008, while Japan's Nikkei <.N225> rose 1.1 percent.
                                
 U.S. stock futures <SPc1> <DJc1> also firmed, with S&P 500
futures up 0.4 percent.
                                
 Commodities also rose, though gains were exaggerated by a
softer U.S. dollar on the back of the euro's rally.
                                
 Oil <CLc1> rose 41 cents to $85.33 a barrel [O/R], while
gold <XAU=> climbed 0.5 percent to its highest in four months.
[GOL/]
                                
 London copper futures were firm and flirting with 20-month
highs of over $8,000 a tonne. [MET/L]
                                
 Higher-yielding commodity currencies also benefitted. The
Australian dollar <AUD=> hit a five-month high, while the New
Zealand dollar <NZD=> was at its highest in 2-