By Stephen Kirkland Sept. 1 (Bloomberg) -- Stocks snapped a two-day decline, U.S. index futures rose and copper rallied after China’s manufacturing and Australia’s economy grew faster than economists estimated. The Swiss franc weakened after reaching a record against the euro. The MSCI World Index climbed 0.8 percent at 7:25 a.m. in New York. Futures on the Standard & Poor’s 500 Index jumped 1.1 percent. Copper increased 1.6 percent and nickel advanced 2.4 percent. The Swiss franc ended a two-day advance against the euro, and the Australian dollar strengthened against all of its 16 major counterparts. China’s purchasing managers’ index rose to 51.7 from 51.2, exceeding forecasts, while Australia’s economy expanded 1.2 percent from the first quarter, according to government data released today. The Federal Reserve signaled it was unlikely to begin a second round of debt purchases imminently, according to minutes of its last meeting released yesterday. A report today will probably show U.S. manufacturing grew in August at the slowest pace in almost a year, according to a Bloomberg survey. “Asian growth is still much better than the rest of the world,” said Manpreet Gill, a Singapore-based strategist at Barclays Wealth, which has $229 billion in assets. “Investors still need to be selective when buying equities as the global economic picture still looks tentative.” Europe, Asia The Stoxx Europe 600 Index rose 1 percent as more than nine shares advanced for every one that fell. Mining companies Xstrata Plc and Rio Tinto Plc increased more than 2 percent. Vivendi SA, owner of the world’s largest record company, rallied 3.9 percent after raising its profit forecast. Vinci SA, the world’s biggest builder, jumped 3.2 percent as earnings beat estimates. The MSCI Asia Pacific Index gained 1.5 percent and the MSCI Emerging Markets Index of 21 developing countries added 0.9 percent. Benchmark indexes in Australia, Japan, South Korea, India, South Africa, Indonesia and Egypt rose more than 1 percent. The Swiss franc depreciated 0.9 percent to 1.2986 per euro. Higher-yielding currencies rose against the dollar and the yen, with the Australian dollar climbing 1.7 percent to 90.58 U.S. cents. The euro was 1 percent higher at $1.2806, while the yen was 0.2 percent stronger at 84.02 per dollar. Yields on 10-year Treasury notes increased 5 basis points to 2.53 percent, while those on German bunds jumped 6 basis points to 2.18 percent. U.S. Manufacturing The U.S. Institute for Supply Management’s factory index probably dropped to 52.7 in August from 55.5 in July, according to the median estimate of 78 economists surveyed by Bloomberg News. Readings greater than 50 signal growth. The figures are due at 10 a.m. New York time. ADP Employer Services may report 15,000 jobs were added by U.S. companies last month, the fewest since February, economists said in a Bloomberg survey before the release of the data scheduled for 8:15 a.m. The data presages the Labor Department’s Sept. 3 report that may show companies added 42,000 workers to their payrolls in August, down from 71,000 in July. China’s manufacturing growth boosted raw materials prices, with the S&P GSCI Total Return index of 24 commodities rising 0.9 percent, the first increase this week. Crude oil for October delivery climbed 1.1 percent to $72.73 a barrel on the New York Mercantile Exchange. Gold added 0.4 percent to $1,252.32 an ounce, increasing to within $13 of the record set in June. The cost of credit-default swaps to protect Portuguese sovereign debt fell 9 basis points to 336, according to data provider CMA, as the government sold 1 billion euros ($1.3 billion) of six- and 12-month bills. The Markit iTraxx Crossover Index of default swaps on 50 mostly junk-rated European companies tumbled from a six-week high, dropping 12.5 basis points to 519.5, Markit Group Ltd. prices show. To contact the reporter on this story: Stephen Kirkland in London at skirkland@bloomberg.net

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