U.S. stocks, commodities rise on economic data; Treasuries fall

Earnings Rise

Celesio AG gained 4.5% after the German drug wholesaler reported that earnings before interest, taxes, depreciation and amortization climbed in 2012.

The S&P GSCI gauge of 24 commodities advanced for a third day, rising 0.4%. U.S. natural gas futures gained for the first day in five, rising 0.5% on the New York Mercantile Exchange. The futures have advanced 16% this year.

The advance on Italian bonds reversed most of yesterday’s decline. European Central Bank executive board member Benoit Coeure said today the institution will do everything it can within the terms of its mandate to preserve the euro.

Italian borrowing costs dropped at the sale of 8.5 billion euros ($10.9 billion) six-month bills today. The rate decreased to 0.831%, from 1.237% at an auction of similar- maturity debt Feb. 26.

Political Risk

Democratic Party leader Pier Luigi Bersani has two days left to overcome a shortfall of support in parliament, after President Giorgio Napolitano gave him a mandate on March 22 to try to form a government. Bersani will meet adversary Silvio Berlusconi’s deputies at the People of Liberty party today.

“With the political risk in Italy continuing, it will be hard for the euro to make any headway,” said Yuki Sakasai, a foreign-exchange strategist at Barclays Plc in New York.

The MSCI Emerging Markets Index added 0.6%, gaining for a second day as benchmark gauges in Thailand and the Philippines gained at least 1%. The Shanghai Composite Index fell 1.3%, the most in a week, after the China Securities Journal said many banks started to control the scale of loans for property development.

Bloomberg News

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