Optimism over Greek deal boosts stocks and euro

A new offer by Greece on a reform package to avoid a default on its debts raised hopes that a tangible deal with international creditors was still possible, lifting global stock indexes and the euro on Monday.

Gold prices fell more than 1 per cent as the US dollar gained.

The euro traded at $1.13930, up 0.38 per cent on the EBS trading platform, closing in on the Asian trading session high of $1.14040.

MSCI's all-country stock index climbed 1.2 per cent.

At 11:23 am ET (1523 GMT), the Dow Jones industrial average rose 162.32 points, or 0.9 per cent, to 18,178.27, the S&P 500 gained 19.39 points, or 0.92 per cent, to 2,129.38 and the Nasdaq Composite added 43.20 points, or 0.84 per cent, to 5,160.20. reuters

Greek stocks were 9 per cent higher, while Greek bank shares surged 20.8 per cent. European shares were up 2.2 per cent.