World stock markets rise on Greece optimism, China data

[Omaha Steve]

Source: AP

By JOE McDONALD

BEIJING (AP) — Global stocks rose Tuesday on optimism over Greek debt talks and signs of stabilization in China's manufacturing industries.

KEEPING SCORE: Germany's DAX rose 1.1 percent to 11,583.65 and France's CAC-40 gained 0.8 percent to 5,050.22. Britain's FTSE 100 was up 0.3 percent to 6,845.90. The advances followed big gains on Monday. Wall Street looked poised for another up day, with the future for the Standard & Poor's 500 up 0.2 percent. Dow Jones futures were up 0.1 percent.

GREEK TALKS: Greece offered economic reforms that its European creditors consider closer to being acceptable. At a meeting Monday, leaders of the 19 nations that use the euro currency said the offer by the government of Prime Minister Alexis Tsipras might form a basis to break a four-month deadlock. The Greek stock market surged by 9 percent. Still, the two sides failed to reach a deal that might get Athens new loans at a time when its reserves of cash are running low.

CHINESE MANUFACTURING: A survey by HSBC Corp. found Chinese manufacturing improved in June but still was contracting. Output and new orders rose and improved export orders suggested foreign demand might be recovering. That suggests the economy "has started to find its footing," said Capital Economics in a report.

FULL story at link.

Read more: http://bigstory.ap.org/article/a75fce36587b4334b0aded1379366ca6/asian-stocks-rise-following-us-gains-greek-optimism

[candelista]

1. "Greece optimism"

Now that's a laugh.