(Reuters) - Global equity markets and the euro advanced on Friday on hopes Cyprus will avert a financial collapse, taking succor from an agreement that shielded Greek banks from the Cypriot crisis and remarks that the island nation was hours away from a bailout.
U.S. rose and European shares rebounded after Greece's Piraeus Bank
(BOPr.AT) agreed to take over the Greek branches of Cyprus's troubled banks in a deal that allows the country to shrink its bloated banking sector.
The deputy leader of the ruling party in Cyprus later said that the country was close to a compromise that would let its parliament reverse the rejection of a rescue package offered by euro zone partners a week ago.
Finance ministers of the 17-nation euro zone will hold talks on Sunday on the bailout crisis in Cyprus, two euro zone sources told Reuters.
The euro rose 0.74 percent to $1.2992 in its first weekly gain in seven weeks on hopes Cyprus had averted a financial meltdown.
"It seems that investors are expecting a deal before the Monday deadline. So they're not placing new shorts on the euro going into the weekend. They don't want to be caught on the wrong side of the bet in case a deal does materialize," said Brian Kim, currency strategist at RBS Securities in Stamford, Connecticut.
Wall Street was lifted by retail stocks, the day's top gainers, on better-than-expected results from Nike Inc (NKE.N). Nike shares rose 11.1 percent to $59.53.
"While the market may be vulnerable because it's up so much, the U.S. economy is in a better shape and better position to withstand the whole euro zone and Cyprus situation," said Randy Frederick, managing director of active trading and derivatives at Charles Schwab.
The Dow Jones industrial average .DJI closed up 90.54 points, or 0.63 percent, at 14,512.03. The Standard & Poor's 500 Index .SPX was up 11.09 points, or 0.72 percent, at 1,556.89. The Nasdaq Composite Index .IXIC was up 22.40 points, or 0.70 percent, at 3,245.00.
For the week, the Dow was flat, the S&P was off 0.2 percent and the Nasdaq fell 0.1 percent.
MSCI's all-country world equity index .MIWD00000PUS gained 0.28 at 358.79.
In Europe, the pan-European FTSEurofirst 300 .FTEU3 of leading regional shares retreated to close down 0.1 percent at 1189.44.
Oil prices rose above $107 a barrel. Brent crude for May delivery rose 19 cents to settle at $107.67 a barrel. U.S. crude for May settled up $1.26 at $93.71 a barrel.
The benchmark 10-year U.S. Treasury note fell 5/32 in price to yield 1.9302 percent.
(Additional reporting by Marc Jones in London; Editing by Chizu Nomiyama, Bernadette Baum and Nick Zieminski)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
Piraeus in deal to buy Greek units of Cypriot banks
By George Georgiopoulos, Lefteris Papadimas and Laura NoonanCypriot "no" inspires Greeks to rail against austerity
ATHENS - Greeks and opposition parties inspired by the Cypriot rejection of an unpopular bailout deal urged Athens on Wednesday to stand up to foreign lenders whose demands have resulted in repeated rounds of austerity that have made Greek life a misery.Analysis : Emerging market switch could boost Greek stocks
LONDON - A switch from developed to emerging market stock indices could rekindle demand for Greek shares, although the crisis-hit euro zone state might sit uncomfortably among the fast-growing economies of Asia and Africa.Delay to Cyprus bank levy scuppers quick sale of Greek units
ATHENS - Delays in approving a Cypriot bank levy scuppered a plan for Greek banks to take over their local units before a three-day weekend ends on Tuesday.Albanian prisoner releases hostages, drops escape bid
ATHENS - An Albanian criminal who has already used a helicopter to stage two prison breaks in Greece has failed in his third escape bid, releasing five prison guards he had held hostage for nearly 24 hours, police said on Sunday.Albanian prisoner seizes hostages in third Greek escape bid
ATHENS - An Albanian murderer who has already used a helicopter to stage two prison breaks has seized hostages in a Greek jail and threatened to blow himself up with them if he is not allowed to escape, police said on Sunday.Greece seeks buyers for local units of Cypriot banks
ATHENS - Athens has started exploring local lenders' interest in taking over the Greek units of Cypriot banks, as part of the island's international bailout agreed earlier on Saturday, Greece's finance minister said.
Yemenis voice cynicism, hope over reform talks
Chicago announces mass closing of schools
Dealer cheating upends Volvo's China unit
Δεν υπάρχουν σχόλια :
Δημοσίευση σχολίου