By Stephen Kirkland June 30 (Bloomberg) -- U.S. index futures rose as equity markets rebounded from the biggest sell-off in 14 months. Shares in the U.K., Germany and Spain advanced, while the yen and dollar weakened. Futures on the Standard & Poor’s 500 Index added 0.4 percent at 9:49 a.m. in London, and the yen retreated from the strongest level in more than eight years against the euro. The U.K.’s FTSE 100 Index, Germany’s DAX Index increased 0.4 percent, and Spain’s IBEX 35 gained 1 percent. Greek and Spanish banks rallied as the European Central Bank offers lenders three- month loans to replace a maturing 12-month facility. “The take-up will be interesting to see as it will provide an indication of the short-term funding requirements not satisfied by the interbank market,” wrote Gary Jenkins, a strategist at Evolution Securities in London, in a research note. “Worries over growth prospects caused a sharp sell-off in risk assets and a move to safe havens yesterday.” More than $7 trillion has been erased from the value of global equities since the April 15 peak, on concern the economic recovery will slow. The MSCI World Index of 24 developed nations sank 3.2 percent yesterday, the biggest decline since April 2009, after U.S. consumer confidence unexpectedly dropped and a Chinese economic index was revised lower. The gain in futures signaled the S&P 500 will rebound from its lowest since Oct. 30. Investors will watch the ADP National Employment Report today as an indication of what a monthly release on non-farm payrolls may show July 2. The ADP report, a measure of private employment, is due at 8:15 a.m. New York time. The Institute for Supply Management-Chicago Inc. releases its business barometer at 9:45 a.m. Bank Refinancing The Stoxx Europe 600 Index added 0.2 percent, rebounding from the biggest drop in six weeks. EFG Eurobank Ergasias SA, Greece’s second-biggest bank, climbed 6 percent before data from the ECB that will indicate how reliant the region’s lenders are on the central bank for funding. Banks tomorrow need to repay 442 billion euros ($540 billion), the biggest amount ever awarded by the ECB and a key plank in its efforts to fight the financial crisis last year. Demand for three-month cash today will highlight how much banks still rely on the ECB for funding, investors and economists said. The ECB will announce how much money banks have asked for at about 11:15 a.m. in Frankfurt. Yen, Dollar Weaken The yen depreciated 0.5 percent to 108.48 per euro, ending the longest run of gains versus the common currency since January 2009. The dollar slipped 0.4 percent to $1.2233, snapping two days of gains. Commodities rose, led by a 2.1 percent jump in three-month delivery zinc on the London Metal Exchange to $1,779.75 a metric ton. Gold gained 0.3 percent to $1,243.93 an ounce and New York- traded crude oil for August delivery rose 0.4 percent to $76.27 a barrel. ----With assistance from Andrew Rummer, Michael Patterson and Daniel Tilles, Steve Voss and Alexis Xydias in London. Editors: Stephen Kirkland, Mark Gilbert To contact the reporters on this story: Stephen Kirkland in London at skirkland@bloomberg.net;

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