* Global stocks rise after Greek rescue
* Euro gains on Greek aid agreement but caution remains
* Oil slips below $85 a barrel despite weaker U.S. dollar
* Bond prices gain in anticipation of poor company results
By Herbert Lash and Dominic Lau
NEW YORK/LONDON, April 12 (Reuters) - Global stocks inched
higher on Monday after the eurozone put a value on the aid it
can offer Greece, but the euro and Greek borrowing costs pared
initial gains after Germany pricked some of the enthusiam over
the rescue package.
The broadly stronger euro pushed gold to near four-month
highs and copper rose to a 20-month high before a spokesman for
the German finance ministry said European leaders would need to
activate any Greek aid -- showing disagreement over how funds
would be provided. For details see: []
The safety net for Greece agreed over the weekend, however,
boosted investor appetite for riskier assets, lifting Asian
shares to 22-month highs and keeping U.S. and European stocks
indexes slightly above break-even.
The MSCI All-Country World Index <.MIWD00000PUS> advanced
0.4 percent to an 18-month high.
"All attention so far is on the news from Greece," said
John Doyle, foreign exchange strategist at Tempus Consulting in
Washington. "It shows stabilization on the euro on just the
offer from the European Union."
Euro zone ministers approved a 30 billion euro ($40.5
billion) aid package of loans, which Greece can tap if needed,
with at least 10 billion euros also expected from the
International Monetary Fund. []
Overall investor sentiment remained positive. The CBOE
Volatility Index <.VIX>, which measures the implied volatility
of the S&P 500 Index <.SPX>, hit a 33-month intraday low.
The Dow Jones industrial average <> was up 13.53
points, or 0.12 percent, at 11,010.88. The Standard & Poor's
500 Index <.SPX> was up 2.14 points, or 0.18 percent, at
1,196.51. The Nasdaq Composite Index <> was up 1.42
points, or 0.06 percent, at 2,455.47.
In Europe, energy shares that feel the impact of lower
crude prices offset gains for banking stocks thanks to the
Greek rescue package. []
U.S. Treasury debt prices rose as concern over the strength
of pending corporate earnings in the first quarter bolstered
the safe-haven appeal of lower-risk government debt.
[]
The benchmark 10-year U.S. Treasury note <US10YT=RR> was up
4/32 in price to yield 3.87 percent.
EARNINGS
With little in the way of economic data, investors turned
their focus to expectations for company earnings.
"There is a perception that equities will disappoint during
earnings season and that will be positive for Treasury prices
near-term," said Thomas di Galoma, head of fixed income rates
trading at Guggenheim Securities in New York.
Oil prices slipped below $85 a barrel, despite a drop in
the dollar and bullish data that showed a big jump in Chinese
crude imports. []
Technical chart analysts said the oil market was running
out of upward momentum after a sharp rise in prices at the end
of March and in early April. The pull-back came despite factors
that analysts said were supportive for the market.
(Reporting by Nick Olivari and Chris Reese in New York;
Christopher Johnson and William James in London; writing by
Herbert Lash)
