Global stocks rise as China credit growth rebounds

BEIJING (AP) — International stock markets rose today after China's bank lending rebounded and European economic growth exceeded forecasts.

Wall Street is closed today for a public holiday but futures so far point to gains at the opening of tomorrow's trading session.

Lending by Chinese banks and in the largely unregulated underground market rebounded to 2.6 trillion yuan (yoo-AHN') ($430 billion) in January from December's 1.2 billion yuan. Lending usually surges at the start of a new year but January's rise exceeded forecasts and might help to ease worries about cooling retail sales, manufacturing and other activity.

The economy of the 17-nation euro currency bloc grew 0.3 percent in the fourth quarter, above expectations for 0.2 percent.

The dollar fell against the euro and rose against the yen.

Benchmark U.S. crude oil rose to near $101 a barrel.

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