Summary Box: Stocks rise as Greece nears new loan

AP News
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Posted: Jun 29, 2011 5:01 PM
Summary Box: Stocks rise as Greece nears new loan

GREECE: Greek lawmakers passed an austerity bill that brought the country closer to getting a financial backstop it needs to avoid defaulting on its debt. The loan buys Greece and other European countries more time to repair their budgets.

BANKS: Financial companies in the S&P 500 rose 2.1 percent after Bank of America reached an $8.5 billion settlement with investors over claims it sold them bad loans.

THE INDEXES: The Dow rose 72.73 points, or 0.6 percent, to close at 12,261.42. The S&P 500 rose 10.74, or 0.8 percent, to 1,307.41. The Nasdaq rose 11.18, or 0.4 percent, to 2,740.49.