June 7 (Bloomberg) — U.S. stock futures and European equities rose while the euro and crude oil pared losses after an unexpected surge in German factory orders allayed concern that the global recovery is faltering.
Standard & Poor’s 500 Index futures expiring in June climbed 0.3 percent to 1,069.40 at 8:30 a.m. in New York after falling 1.3 percent. The Stoxx Europe 600 Index added to 0.1 percent, recovering from a 1.7 percent drop. The euro traded at $1.1971, jumping from a four-year low of $1.1877. Oil shrank its loss to 0.1 percent. Nickel and tin rose in London. Yields on 10-year Treasuries rose 0.03 percentage point to 3.23 percent.
Manufacturing improved in Germany for a second month in April after the euro’s plunge against the dollar, which now totals 16 percent, made prices for European goods more competitive in world markets. Sentiment also improved after Hungarian officials toned down comments about a potential default that rattled investors and helped send the S&P 500 to its lowest level in four months on June 4.
