U.S., Europe Stocks Rally With Euro Amid Optimism on Greek Pact
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Global markets signaled growing faith in Greece’s ability to clinch a bailout, as U.S. and European stocks soared and the euro jumped the most in more than two years against the yen.
The Standard & Poor’s 500 Index climbed 1.2 percent at 4 p.m., the most since May 8, while the Stoxx Europe 600 Index capped its biggest two-day gain since 2011 as Greek contagion risk subsided. Treasuries fell with German bunds and the yen on reduced haven demand. The Shanghai Composite capped its first back-to-back gain since June 24 after the government banned insiders from selling stocks, with about half of listed companies halted.