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Premarket: Leaping into stocks Add to ...

Crisis? What crisis? Investors around the world pushed shares higher, as if all of Greece's debt problems have been resolved and pose no threat to banks and other European nations.

The FTSE 100 index of British shares was up 0.6 per cent at 5,725 while Germany's DAX gained 0.5 per cent to 7,190. The CAC-40 in France climbed 0.8 per cent to 3,831. Japan's Nikkei 225 gained 1.1 per cent to close at 9,459.66. Hong Kong's Hang Seng gained 1.2 per cent at 21,850.59.

Wall Street appeared ready for gains as well. Dow futures were up 0.5 per cent at 12,067, while S&P 500 futures rose 0.5 per cent to 1,280.60.

Greek Prime Minister George Papandreou faces a parliamentary vote of confidence in the new cabinet he formed last week. The government needs to win to pass new austerity measures, which would pave the way for bailout funds that Greece must procure to avoid defaulting on its debt.

Fitch Ratings warned it would treat a voluntary rollover of Greece's sovereign bonds in any rescue package as a default and would cut the country's credit rating, keeping pressure on European policymakers who intend to outline a new plan by mid July. Fitch said it also saw risks of a debt default in the United States.

The euro pared its gains against the U.S. dollar, trading flat at $1.435 after the Fitch statement. The loonie rose to $1.0236 (U.S.).

Oil rose 87 cents to $94.13 a barrel.

Copper edged higher to $9,045.50 a tonne, paring losses after falling nearly 1 percent to $9,005 in the last session.

Gold prices rose, reflecting some lingering uncertainty over Europe's troubles. Spot bullion was bid at $1,543.04. Silver touched $36.20 an ounce, its highest level in a week.


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