Global mkts up on Irish bailout talk

Stocks rose around the world, the euro strengthened and commodities snapped two days of losses on the prospect of a European Union-led bailout for Ireland. The nation’s bonds rallied, and US index futures advanced.

The MSCI World Index gained 0.9 per cent at 7:15 am in New York, while futures on the Standard & Poor’s 500 Index jumped 1.1 per cent. The euro climbed 0.9 per cent against the dollar. The yield on the Irish 10-year bond slid 15 basis points to 8.18 percent, while the Greek yield declined 10 basis points to 11.66 per cent. The cost of insuring Ireland’s bonds sank, with credit- default swaps retreating 14.5 basis points, according to CMA. Treasuries dropped to 2.93 per cent.