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GLOBAL MARKETS-U.S. stocks rise on reassuring data, oil slips

Tue Apr 28, 2009 10:55pm IST
 
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* U.S. stocks edge higher on IBM, U.S. economic news

* Dollar slips vs euro as U.S. data raises optimism

* Bond prices slip on April consumer confidence jump

* Oil eases toward $49 a barrel on weakening demand (Recasts, updates U.S. markets; changes byline, dateline, previous LONDON)

By Herbert Lash

NEW YORK, April 28 (Reuters) - U.S. stocks rose slightly but oil slipped on Tuesday as the biggest jump in U.S. consumer confidence in three years helped offset worries over a spreading swine flu outbreak and a report that Citigroup and Bank of America may need more capital.

Data showing a slowing decline in U.S. home prices and the stronger-than-expected reading on consumer confidence increased risk appetite, leading the dollar to slip against the euro.

Euro zone government bonds pared gains and U.S. Treasuries weakened after the Conference Board reported the biggest one-month rise in consumer confidence since November 2005.

New data also showed U.S. house prices tumbled nearly 19 percent in February from a year earlier but it was the first time in 16 months the slide did not set a record, according to the Standard & Poor's/Case-Shiller Home Price Indices.  Continued...

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