By Stephen Kirkland Nov. 18 (Bloomberg) -- Stocks rose around the world, the euro strengthened and commodities snapped two days of losses on the prospect of a European Union-led bailout for Ireland. The cost of insuring against an Irish default fell and U.S. index futures advanced. The MSCI World Index gained 0.8 percent at 9:50 a.m. in London, while futures on the Standard & Poor’s 500 Index jumped 1 percent. The euro climbed 0.8 percent. The yield on the Irish 10-year bond slid 13 basis points to 8.20 percent, while the Greek yield declined six basis points to 11.70 percent. Credit- default swaps on Ireland’s bonds sank 14.5 basis points, according to CMA. Treasuries dropped for a second day, sending the yield on the 10-year note up two basis points to 2.90 percent. Silver increased 3.8 percent and oil added 1.8 percent. Stocks are recovering from a rout that wiped more than $2 trillion off the value of global equities since the start of last week. Ireland will probably seek a bailout from the EU and the International Monetary Fund worth “tens of billions” of euros to rescue its battered banks, central bank Governor Patrick Honohan told Irish state broadcaster RTE today. The index of U.S. leading indicators probably rose in October by the most in five months, according to a Bloomberg survey. measures to cool inflation. “There’s a certain degree of worry about Ireland but it’s in a very different situation than Greece was earlier this year,” said Raimund Saxinger, a fund manager at Frankfurt Trust Investment GmbH, which oversees about $22 billion. “Ireland doesn’t have immediate financing needs.” Europe The Stoxx Europe 600 Index rallied 1 percent as more than seven companies rose for every one that fell. Banco Santander SA, Spain’s biggest lender, rose 2.3 percent. Rio Tinto Group, the world’s third-largest mining company, climbed 2.7 percent. Air France-KLM, Europe’s biggest airline, surged 5.2 percent after lifting its earnings forecast. Royal Boskalis Westminster NV jumped 9.7 percent as the world’s largest dredging company boosted its profit outlook. SABMiller Plc, the maker of Grolsch and Peroni beers, gained 5 percent to a record after reporting results that beat analysts’ estimates. The MSCI Asia Pacific Index added 1.7 percent, snapping four days of losses. Cnooc Ltd., China’s biggest offshore-oil producer, jumped 4.9 percent in Hong Kong. David Jones Ltd., Australia’s second-largest department store operator, rose 4 percent after reaffirming its profit guidance. Showa Denko K.K., which makes ceramics and electronic materials, climbed 6.3 percent after UBS AG recommended buying the stock. Leading Indicators The gain in U.S. futures indicated the S&P 500 may advance for a second day. General Motors Co., which went bankrupt last year after almost a century on the New York Stock Exchange, returns to public trading today following an initial share offering that raised more than $20 billion. The Conference Board’s gauge of the outlook for the next three to six months climbed 0.5 percent, according to the median of 58 forecasts in a Bloomberg survey. The report is due at 10 a.m. in New York. A separate report from the Labor Department, set for 8:30 a.m., may show jobless claims last week held near a four-month low. The S&P GSCI index of 24 raw materials rose 1.8 percent, the first increase in three days and biggest advance since Nov. 4. Silver led the gains, followed by wheat, zinc and corn. Crude oil’s jump to $81.92 a barrel was the first increase in a week. The MSCI Emerging Markets Index advanced for the first time in seven days, climbing 1.1 percent. Developing-nation currencies strengthened, led by a 1.3 percent gain in Malaysia’s ringgit against the dollar. Yields on South Korea’s 4 percent government bonds due September 2015 rose five basis points after the finance ministry said policy makers will revive a tax on foreigners’ debt holdings, joining countries from Thailand to Brazil attempting to slow capital inflows that are driving up their currencies. --With assistance from Claudia Carpenter, David Merritt, Abigail Moses, Michael Patterson and Daniel Tilles in London. Editors: Stephen Kirkland, Justin Carrigan To contact the reporter on this story: Stephen Kirkland in London at skirkland@bloomberg.net To contact the editor responsible for this story: Paul Sillitoe in London at psillitoe@bloomberg.net

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