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Euro, stocks gain on Greece bailout hopes
(Reuters) - The euro hit an eight-week high against the dollar on Tuesday, helping lift stocks and commodities on signs a Greek bailout agreement was near, but the rally paused after a key meeting on Greece was postponed by a day.
The euro rallied after Greece appeared to be close to terms on a 130-billion-euro bailout. A government official said Athens was drafting a list of painful reforms to clinch a new financial package, moving it a step closer to a deal that is needed to avoid a chaotic ...
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Oil rises on spread trade, Canadian outage
(Reuters) - Brent oil rose slightly on Tuesday and U.S. crude jumped more than 1.5 percent, bolstered by an unplanned outage at a Canadian oil sands plant and optimism about an agreement on Greece's debt problems.
An Alberta plant that processes Canadian oil sands was expected to be shut for two or three weeks, adding lift for U.S. crude and helping narrow its deficit to Brent.
Brent's premium to U.S. crude oil widened in early trade to more than $20 per barrel, its highest since October, ...
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Euro leaps to eight-week peak vs dollar on Greece deal optimism
(Reuters) - The euro rallied across the board on Tuesday, hitting an eight-week high against the dollar on optimism that Greece is about to agree on a bailout deal that will enable it to avoid a messy default.
A Greek official's statement suggested that the Greek government has completed negotiations with lenders on its 130 billion-euro rescue package, although agreeing to the painful austerity measures that come with the bailout could be a challenge.
Greek political leaders had balked at the ...
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Gold rises nearly 2 percent on Greece bailout optimism
(Reuters) - Gold prices rose 1.5 percent on Tuesday for their biggest daily gain in two weeks, as expectations that a Greek rescue deal will be completed drove the dollar down sharply against the euro.
Bullion, which had dropped in early trade on nervousness about Greece, rebounded to snap two days of losses as Greece's government was preparing a list of reforms needed to clinch a new financing package.
Hopes for a bailout plan that would move Athens closer to avoiding a chaotic debt default ...
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Wall St edges up as Greece draws up bailout terms
(Reuters) - Stocks edged higher on Tuesday as investors awaited the outcome of discussions on a bailout package for Greece that is critical to the country avoiding a chaotic default.
Greek officials worked on the draft of a text on the 130-billion-euro bailout plan that will be put to political leaders for approval while strikers protesting against more austerity tussled with police outside parliament.
A light U.S. economic calendar this week shifted investor focus back to the euro zone. With ...
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Gold rises 1.5 percent on Greece rescue deal optimism
(Reuters) - Gold prices rose 1.5 percent on Tuesday as expectations that a Greek rescue deal will be completed drove the dollar down sharply against the euro.
Bullion, which had dropped in early trade on nervousness about Greece, rebounded and headed for its biggest daily gain in two weeks as Greece's government was preparing a list of reforms needed to clinch a new financing package.
Hopes for a bailout plan that would move Athens closer to avoiding a chaotic debt default boosted gold's ...
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EU raids power bourses on antitrust concerns
(Reuters) - European Commission officials raided the offices of two electricity exchanges on Tuesday following concerns their planned tie up may infringe European competition laws, the companies said.
Paris-based EPEX Spot and Norway's Nordpool Spot, which offer short-term electricity trading platforms for French, German, Austrian, Swiss and Scandinavian power, in September announced plans to create a joint exchange which would cover more than half of Europe's spot electricity trades.
"Yes, ...
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Gold rises 1 percent on Greece rescue deal optimism
(Reuters) - Gold prices rose 1 percent on Tuesday as expectations that a Greek rescue deal will be completed drove the dollar down sharply against the euro.
Bullion, which had dropped in early trade on nervousness about Greece, bounced and was on track for its biggest daily gain in two weeks as Greece's government was preparing a list of reforms needed to clinch a new financing package.
Hopes for a bailout plan that would move Athens closer to avoiding a chaotic debt default boosted gold's ...
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U.S. oil rallies, Brent pares gain in spread trade
(Reuters) - Brent pared gains on Tuesday after rising above $117 per barrel to push its premium to U.S. crude above $20 a barrel, triggering profit taking and helping U.S. crude recover and rally.
Fears that Iran would stop exports to the European Union in advance of the EU's embargo set for July, along with Europe's severe cold snap, had lifted Brent despite concerns Greece's debt crisis would result in curbed economic growth.
U.S. crude had been weighed down by rising domestic stocks and ...
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