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6C Daily News – Saturday, June 30, 2012 kets around the world stormed higher Friday after European leaders came up with a breakthrough plan to rescue banks, relieve debt- burdened governments and restore investor confidence. The Dow Jones industri- al average climbed 277 points, and the Standard & Poor's 500 index had its best (AP) —Financial mar- World markets surge after Europe finds rescue plan Wall Street day of the year. Stocks advanced even further in Europe, in strong and weak countries alike. The price of oil posted its biggest one-day increase in more than three years, and other commodities shot higher — signs of hope that Tehama Country Real Estate HOUSES & LAND $1K to $5K DOWN OWC 7 ACRES IN TOWN $68,000 OWC 2005 DOUBLEWIDE MFH, 1400 SF $59,000 In Brussels, leaders of the 17 countries that use the euro appeared finally to have found a broad strategy to fight a debt crisis that has hounded European govern- ments and world investors for three years. 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One of the biggest stock gains Friday came in Germany, which took a hard line in earlier negotiations. ''The whole language is positive here,'' he said. ''Every time they've stared over the cliff into the abyss of a euro breakup, they've realized it's much wiser to get closer together.'' There was a sign imme- diately that Europe's latest plan was working: The cost for the troubled government of Spain to borrow money on the bond market fell dra- matically, by more than half a percentage point, to 6.34 percent. Previous market rallies tied to progress in Europe have proved temporary. But for the day, at least, global stock markets were jubilant: — In New York, the my in Europe, and it depends heavily on exports, so it needs other countries to stay healthy. Dow Jones industrial aver- age closed up 277.83 points, its second-best showing this year. The S&P 500 index soared 33 points, or 2.5 per- cent. The rally left the S&P a gain of 8.3 percent at the halfway mark for the year. — The benchmark stock index in Germany rose 4.3 percent, by far its best per- formance this year. Ger- many has the biggest econo- DAILYNEWS in Discount Coupons were published last week in the $ 15 00 $ RED BLUFF TEHAMACOUNTY offering percentage discounts, two-for-ones and Free-with-Purchase offers! … And that does not count all the ads Don't miss a day of it! Subscribe Today 527-2151 It pays for itself. 00 est level in two months in Italy and Spain, two of the countries with the shakiest finances. Stocks also neared a two-month high in Greece, another flashpoint of the debt crisis. Traders sold U.S. Trea- surys, sending the yield on the 10-year Treasury note up to 1.65 percent from 1.57 percent late Thursday, as demand decreased for ultra- safe investments and investors raised money to buy stocks. Energy prices rose sharply because a cure for Europe's debt problem would remove a big drag on global economic growth. The price of oil jumped $7.27 per barrel to $84.96. It was a gain of 9.4 percent, the biggest for oil since March 2009. Seven of the 17 euro countries are in recession, and unemployment in euro countries is 11 percent. But if Europe gets its economy going, it will buy more goods and services from countries in Asia and the U.S. — Stocks hit their high- Gold gained $54, the biggest jump since June 1, to $1,604 an ounce. Copper and silver both rose about 5 percent. Copper is a key material for economic expansion because of its use in electrical wiring, pipes and machinery. The euro gained 2.3 cents against the dollar, to $1.2651. On Thursday, economic reports from the United States were discouraging, and the Dow fell as much as 177 points. But stocks staged a big comeback late in the day and closed down modestly, partly because rumors swirled that Euro- pean leaders were more con- ciliatory. Suite #1 Chico