Palm | Kelapa Sawit

DJI-NEW YORK, Oct 27 (Reuters) - U.S. stocks surged 3 percent on Thursday as an agreement by European leaders to help contain the region's two-year debt crisis lifted a cloud hovering over markets.

Optimism that a deal would be struck to prevent widespread financial distress fueled the market's rebound in October. The S&P 500 is up more than 13 percent this month, on pace for its biggest monthly gain since October 1974.

The Dow Jones industrial average <.DJI> was up 339.51 points, or 2.86 percent, at 12,208.55. The Standard & Poor's 500 Index <.SPX> was up 42.59 points, or 3.43 percent, at 1,284.59. The Nasdaq Composite Index <.IXIC> was up 87.96 points, or 3.32 percent, at 2,738.63.

NYMEX-NEW YORK, Oct 27 (Reuters) - U.S. crude futures jumped more than 4 percent on Thursday, propelled by Europe's latest plans to tackle its debt problems, supportive U.S. economic data and the dollar's weakness as the euro rallied.

Euro zone leaders struck a deal with private banks and insurers for them to accept a 50 percent loss on their Greek government bonds in a plan to lower Greece's debt burden and try to contain the currency bloc's crisis.

On the New York Mercantile Exchange, December crude rose $3.76, or 4.17 percent, to settle at $93.96 a barrel, trading from $90.74 to $94.25.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended up more than 2 percent, the biggest rise in two weeks, buoyed by a drop in the U.S. dollar after European leaders agreed on a plan to solve the region's debt crisis, traders said.

The U.S. dollar index <.DXY> was down nearly 1.9 percent by 1:20 p.m. CDT (1820 GMT), lifting a range of commodities. U.S. crude oil futures were up nearly 4 percent.

FCPO-JAKARTA, Oct 27 (Reuters) - Malaysian palm oil futures rose to a five-week high on Thursday, as a euro zone debt deal boosted investor sentiment, with higher crude prices and lower output expectations offering additional support.

Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange closed 1 percent higher at 2,980 Malaysian ringgit ($952) a tonne, after having earlier touched 3,007, a high not seen since Sept. 22.

Traded volumes for the January palm contract stood at 13,281 lots of 25 tonnes each, compared with 14,264 lots on Tuesday, before Wednesday's holiday in Malaysia for the Hindu Diwali festival of lights.


REGIONAL EQUITIES-Oct 27 (Reuters) - Southeast Asian stock markets gained on Thursday and foreigners were active buyers as a euro zone deal to lower Greece's debt burden and boost the zone's rescue fund increased investors' appetite for risk.[ID:nL5E7LR04T]

AB Capital Securities equities analyst Jose Vistan said the worst-case scenario may have been avoided but the boost to confidence may be temporary.

Singapore <.FTSTI>, outperforming the region, jumped 2.8 percent to a seven-week high led by banks and property shares with the day's trading volume jumping to 1.84 percent of its 30-day average.

Indonesia enjoyed foreign inflows of $66.2 million and Manila $12.7 million. Thailand saw net offshore buying of $39.2 million and Malaysia $85.6 million.

The day's trading volume in Kuala Lumpur was 1.65 percent of its 30-day average and 1.43 percent in Jakarta.

In Singapore, property firms with exposure to China jumped on hopes that Beijing may loosen policy after Premier Wen Jiabao pledged to maintain appropriate credit growth.

Singaporean banks also helped the overall market to gain with top lender DBS rising 2.8 percent and Oversea-Chinese Banking Corp and United Overseas Bank adding 1.9 percent.