By Daniel Tilles June 7 (Bloomberg) -- U.S. stock futures and European equities rose while the euro and crude oil pared losses after an unexpected surge in German factory orders allayed concern that the global recovery is faltering. Standard & Poor’s 500 Index futures expiring in June climbed 0.3 percent to 1,069.40 at 8:30 a.m. in New York after falling 1.3 percent. The Stoxx Europe 600 Index added to 0.1 percent, recovering from a 1.7 percent drop. The euro traded at $1.1971, jumping from a four-year low of $1.1877. Oil shrank its loss to 0.1 percent. Nickel and tin rose in London. Yields on 10-year Treasuries rose 0.03 percentage point to 3.23 percent. Manufacturing improved in Germany for a second month in April after the euro’s plunge against the dollar, which now totals 16 percent, made prices for European goods more competitive in world markets. Sentiment also improved after Hungarian officials toned down comments about a potential default that rattled investors and helped send the S&P 500 to its lowest level in four months on June 4. “There’s some better data out of Germany and there’s an absence of fresh bad news, allowing a bit of a recovery in risk,” said Charles Diebel, head of sovereign strategy at Nomura International Plc in London. “Equities are recovering and fixed-income markets have lost their shine. It’s more of a pause for breath than an outright reversal.” The rebound in U.S. futures indicated the S&P 500 may recover some of its 3.4 percent slump on June 4. The benchmark index for American equities plunged at the end of last week after a report showed private employers in the U.S. added 77 percent fewer jobs than the median economist estimate. Bristol-Myers Surges Bristol-Myers Squibb Co. jumped 7 percent in New York after Goldman Sachs Group Inc. raised its rating on the drugmaker to “buy” from “neutral.” Banks and energy producers led gains among European stocks. UBS AG climbed 2.3 percent in Zurich, and BP Plc rose 2.6 percent in London. Greek stocks tumbled for a second day, with the ASE Index falling 3.9 percent to its lowest level since 1998. Hellenic Telecommunications Organization SA dropped 8.6 percent in Athens after saying it will cut its dividend. The MSCI Asia Pacific Index slumped 3.3 percent, its biggest decline since March 30, 2009. To contact the reporter for this story: Daniel Tilles in London at dtilles@bloomberg.net.

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