By Gavin Serkin March 30 (Bloomberg) -- Emerging-market stocks rose to a 10-week high as oil traded above $82 a barrel on speculation the world economic recovery is strengthening, while Greek stocks and bonds fell after the government sold debt. The MSCI Emerging Markets Index climbed 0.6 percent at 12:30 p.m. in London and the MSCI World Index of stocks in 23 developed markets rose for a fourth day. Futures on the Standard & Poor’s 500 Index added 0.2 percent. Crude oil held above $82 a barrel in New York trading. Greece’s seven-year notes sold yesterday lost value compared with German bunds. U.S. payrolls may have increased by the most in three years in March, according to a Bloomberg survey of economists before a government report April 2, and consumer spending rose in February for a fifth month. Britain’s economy grew faster than economists had predicted in the fourth quarter, while Ireland was scheduled to announce plans to buy banks’ toxic assets. “The market is looking for an excuse to buy risk,” Jim Reid, a strategist at Deutsche Bank AG in London, wrote in a research note. “We will keep a close eye on developments in Ireland and its banking sector. Greece is still paying a high price for funding which will make its ongoing fiscal consolidation efforts more difficult.” Dubai’s DFM General rallied 1 percent while Romania’s BET index rose 0.7 percent and Kazakhstan’s KASE index climbed 0.8 percent. The ruble gained 0.6 percent to the highest level in a week against the dollar as yesterday’s gain in oil prices improved the outlook for the world’s biggest energy exporter. South Korea’s won climbed for a third day, the longest winning streak in three weeks, on speculation the nation’s improving economy will spur overseas demand for assets. Irish Banks The MSCI Asia Pacific Index climbed 1 percent to a 10-week high, the Shanghai Composite Index rose 0.2 percent and the Hang Seng China Enterprises Index of Hong Kong-traded shares jumped 1.6 percent. The Stoxx Europe 600 Index rose 0.3 percent as people with knowledge of the situation said UBS AG, Switzerland’s biggest bank by client assets, generated about $2.3 billion of fixed- income revenue in the first quarter. UBS said in a statement that the $2.3 billion figure is “slightly higher” than its current estimate. Allied Irish Banks Plc plummeted 17 percent in Dublin for the biggest two-day drop in a year before a government report on bank capital requirements. Futures on the S&P 500 gained 0.2 percent, heading for its fourth straight quarterly gain, before reports on U.S. home prices and consumer confidence. The S&P/Case-Shiller index of property values in 20 cities may have dropped 0.3 percent in January from a month earlier on a seasonally adjusted basis, according to the median forecast of 18 economists surveyed by Bloomberg News. The New York-based Conference Board’s sentiment index probably climbed to 51 in March from 46 last month. Greek Swaps Credit-default swaps on Greek sovereign debt rose for a second day, climbing 11 basis points to 327.5, the highest in a week, according to CMA DataVision. Swaps on Ireland increased 1 basis point to 135.5, Spain was 2 higher at 114.5 and Portugal advanced 1 basis point to 135.5. The yield premium on the Greek seven-year security widened about 5 basis points to 339 basis points over benchmark German debt, according to ING Groep NV prices on Bloomberg. The 10-year Greek bond yield jumped 15 basis points to 6.47 percent, and the difference in yield, or spread, with benchmark 10-year bunds widened 14 basis points to 330 basis points, based on Bloomberg generic prices. Crude for May delivery was at $82.26 a barrel, up 9 cents, in electronic trading on the New York Mercantile Exchange before a U.S. government report forecast to show that oil inventories increased while gasoline stockpiles fell. Yesterday, the contract rose $2.17, or 2.7 percent, to $82.17, the highest settlement since March 18 and the biggest gain since Feb. 16. Copper, Dollar Copper for delivery in three months rose 0.2 percent to $7,784 a metric ton on the London Metal Exchange. Gold added 0.1 percent to $1,110.25 an ounce, for a 1.2 percent gain this year. The dollar traded near a one-week low against the euro as mounting evidence the global economy is improving damped demand for the perceived safety of the U.S. currency. The pound climbed against all 16 of its most-traded peers after the report showing the U.K. economy expanded 0.4 percent. To contact the reporter for this story: Gavin Serkin at gserkin@bloomberg.net

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