GLOBAL MARKETS-Stocks inch up, euro near flat; Greece deal eyed

Reuters – Feb 8, 2012 5:02pm EST
  • Euro flat after nearing 8-week high
  • Investors look to Greece for reform plan
  • Italy economic performance discouraging

By Caroline Valetkevitch

NEW YORK, Feb 8 (Reuters) – World stocks edged higher and the euro ended flat on Wednesday as investors focused on whether the latest meeting of Greek political leaders will finally result in reforms to help the country avoid a messy default.

The euro rose early in the session to $1.3290, its highest level since Dec. 12, before paring gains. It was last unchanged against the dollar.

The reforms, subject of marathon negotiations between Greece and its creditors, aim at securing a 130-billion-euro ($172 billion) rescue from the International Monetary Fund and European Union to avoid an unruly default. It would be a second bailout package for Greece.