AlQa'dah 30, 1433, Oct 16, 2012, SPA -- The euro rose to a one-week high against the dollar and four-week high against the yen and sterling, with traders initially citing a Bloomberg report that Germany was open to a precautionary line of credit for Spain. The single currency pared some gains after one of the sources of the report said his comments were "over interpreted." The single currency was up 0.6 percent at $1.3029 after earlier hitting a session high of $1.3060. U.S. Treasuries prices fell as the strong U.S. earnings boosted stocks and reduced the appeal of safe-haven debt. The benchmark 10-year U.S. Treasury note was down 13/32, the yield at 1.7116 percent. The 30-year bond lost more than a full point in price, its yield up at 2.903 percent. World shares rose for a second day on Tuesday and the euro gained against the U.S. dollar as U.S. corporate earnings were surprisingly strong, while bullish German data also provided support, Reuters reported. Reports that Spain may be close to seeking a bailout and of Greece receiving more aid further boosted appetite for riskier assets, with European shares surging more than 1 percent on a rise in financial stocks. U.S. stocks rose after stronger-than-expected earnings from big-name companies, including Johnson & Johnson and Goldman Sachs. Goldman posted a profit as revenue more than doubled. The Dow Jones industrial average rose 114.34 points, or 0.85 percent, to 13,538.57. The S&P 500 gained 13.98 points, or 0.97 percent, to 1,454.11. The Nasdaq Composite added 32.58 points, or 1.06 percent, to 3,096.76. Citigroup unexpectedly announced that Chief Executive Vikram Pandit had resigned effective immediately, along with Chief Operating Officer John Havens. Citi's shares rose 0.9 percent. U.S. stocks bounced back on Monday after closing their worst week in four months on Friday. Major indexes are trading in tight ranges, with the S&P 500 less than 1 percent below its 2012 closing high set a month ago. The closely watched monthly survey from the ZEW institute showed a better-than-expected improvement in German investor confidence, adding to recent signs that the euro zone's biggest economy is fighting hard to stave off the bloc's debt troubles. The FTSE Eurofirst 300 index unofficially closed up 1.36 percent and an MSCI index of global shares rose 1.2 percent. The Spanish equity benchmark rose 3.4 percent. European leaders meet in Brussels on Thursday and investors are looking for clues on whether Greece will be given support to allow it to stay in the euro and if Spain will ask for a bailout in the coming weeks, activating the European Central Bank's bond buying scheme. -- SPA
