Stocks get shot in arm from UAE funding measures

LONDON: Stocks rose across the globe as Abu Dhabi provided $10 billion to avert a default by Dubai's Nakheel PJSC. The euro rose as the bailout eased concern that Europe's biggest banks would write down loans to the emirate.

The MSCI World Index climbed for a third day, gaining 0.4 percent at 10:13 am in London. The euro strengthened against 14 of the 16 most-traded currencies, while copper climbed for a second day.

Abu Dhabi's pledge reassured investors who had sent stock markets tumbling last month on concern defaults would slow the global economic recovery.