Reply #10: Stocks Rise in Europe, Asia, Led by Banks; U.S. Futures Decline

[ozymandius]

July 9 (Bloomberg) -- Stocks rose in Europe and Asia after JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the credit crisis will ease and lower oil prices boosted profit outlooks for automakers and airlines. U.S. index futures fell.

Barclays Plc, the U.K.'s fourth-biggest bank, and Australia's Macquarie Group Ltd. gained after Dimon said buyers are returning to some types of mortgage products. Daimler AG, Air France-KLM Group and Korean Air Lines Co. climbed as crude traded near a two-week low. Norsk Hydro ASA and BHP Billiton Ltd. led metal producers higher after Alcoa Inc.'s profit topped analysts' estimates and copper rose in London.

The MSCI World Index added 0.6 percent to 1,374.55 at 10:52 a.m. in London, trimming the decline from an October record to 18 percent. Financial stocks, which have led a rout that erased more $11 trillion from global equities this year, climbed the most in two months today. The U.K.'s FTSE 100 Index jumped 1.6 percent, after briefly entering a bear market yesterday.

http://www.bloomberg.com/apps/news?pid=20601084&sid=akCkxoCG1Mh0&refer=stocks