* World stocks rise 0.8 pct on Goldman's strong profits
* Dollar down, commodities up as appetite for risk grows
* Lingering Greece concerns weigh on euro
By Walter Brandimarte and Jessica Mortimer
NEW YORK/LONDON, April 20 (Reuters) - Positive corporate
earnings results and optimism about the global economy boosted
stocks on Tuesday, while reducing the safe-haven appeal of the
U.S. dollar and Japanese yen.
The euro weakened against the dollar on concerns Greece
might need a large aid package.
Commodity prices rose as optimism about the global economy
encouraged investors to take on risk. That sent emerging market
stocks more than 1 percent higher.
The sentiment improved as Goldman Sachs Group Inc <GS.N>
posted above-forecast quarterly results which deflected
attention from fraud accusations against the bank by U.S.
securities regulators. []
Citigroup Inc <C.N> announced its best quarterly results in
nearly three years. Other companies such as International
Business Machines Corp <IBM.N> and Coca-Cola Co <KO.N> failed
to impress investors with less stellar earnings.
"Earnings overall are good, but you better beat these
heightened expectations or else your stock is going to take a
breather after the run we've had going into earnings," said
Peter Boockvar, equity strategist at Miller Tabak & Co in New
York.
The MSCI world equity index <.MIWD00000PUS> gained 0.8
percent but Wall Street was trading little changed after rising
at the opening.
The Dow Jones industrial average <> edged down 5.67
points, or 0.05 percent, to 11,086.38. The Standard & Poor's
500 Index <.SPX> climbed 3.69 points, or 0.31 percent, to
1,201.21. The Nasdaq Composite Index <> was up 1.81
points, or 0.07 percent, at 2,481.92.
In Europe, the FTSEurofirst 300 index <> of top
shares rose 1.3 percent, with banking stocks among the top
gainers.
"Results have driven shares higher. After a couple of down
days Citi came out with stellar results and people started
buying again," said Mic Mills, senior trader at ETX Capital.
The MSCI index of emerging market stocks <.MSCIEF> gained
1.1 percent as commodity prices rose.
U.S. crude oil <CLc1> rose $1.35, or 1.66 percent, to
$82.80 per barrel, and spot gold prices <XAU=> rose 0.58
percent to $1,141.10 an ounce. The Reuters/Jefferies CRB Index
<.CRB> of commodity futures gained 0.72 percent.
GREECE CONCERNS WEIGH ON EURO
Greater risk appetite hurt the U.S. dollar, which was
trading nearly stable against a basket of major currencies,
according to the U.S. Dollar Index <.DXY>.
Against the Japanese yen, the dollar <JPY=> was up 0.61
percent at 92.99.
The euro <EUR=> weakened 0.23 percent to $1.3453 dollars as
concerns about Greece's fiscal situation lingered, causing the
premium investors demand to buy Greek government bonds compared
with euro zone benchmark Bunds to rise to fresh highs.
The yield spread between Greek and German 10-year bonds
widened to 489 basis points, a euro lifetime wide, versus 468
basis points at Monday's settlement close, according to
Tradeweb.
The Wall Street Journal reported European Central Bank
Governing Council member Axel Weber said Greece may require
assistance of up to 80 billion euros. []
Greece has yet to ask for activation of the EU/IMF aid
safety net agreed earlier this month, estimated at 45 billion
euros in the first year. []
(Editing by Andrew Hay)
