Stocks, Commodities Rise After Greece Approves Austerity Plan
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Global stocks rose, rebounding from the biggest loss of the year, and commodities climbed after Greek lawmakers approved austerity plans to secure rescue funds. Treasuries climbed, while the euro reversed early gains.
The MSCI All-Country World Index added 0.8 percent at 4:30 p.m. in New York after slumping 1.2 percent on Feb. 10. The Standard & Poor’s 500 Index climbed 0.7 percent to 1,351.77. The euro was little changed at $1.3194, erasing a gain of as much as 0.7 percent. The S&P GSCI index increased 1 percent as 13 of 24 commodities advanced. Yields on 10-year Treasuries dropped one basis point to 1.98 percent.