Monday, May 30, 2011

Euro Rises On Optimism Over Greece



The euro climbed against most of its major peers, while Asian stocks and U.S. equity-index futures advanced amid speculation European nations will pledge more funds to repair Greece’s finances. Wheat sank the most in three weeks after Russia said it will allow grain shipments to resume.
Europe’s 17-nation currency strengthened 0.6 percent to $1.4369 and rose 0.5 percent to 116.13 yen as of 9:35 a.m. in Tokyo. The MSCI Asia Pacific Index climbed 0.6 percent, paring its steepest monthly slump in a year. Standard & Poor’s 500 Index futures added 0.4 percent. Wheat tumbled as much as 4.4 percent. Oil erased earlier losses, while copper snapped a four- day advance in New York.