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Global Stocks Rise on Talk of Aid to Greece

Stocks across Asia and Europe rose Wednesday on reports the European Union was planning a rescue of Greece.

Updated from 4:16 a.m. EST

NEW YORK (

TheStreet

) -- Stocks across Asia and Europe rose Wednesday on reports the European Union was planning a rescue of Greece.

In Tokyo, the Nikkei 225 stock average ended higher by 0.3% to 9,963.99 and Hong Kong's Hang Seng index gained 0.7% to 9,922.22.

In London stocks rose 0.8% in the early going, and Frankfurt shares were up 1.3%. Paris stocks were gaining 1.2%

The

Associated Press

reports the European Central Bank may come up with a form of support for Greece which wouldn't require a bailout, such as guarantees for debt. Alternatively, big economies like Germany and France could offer support.

There is a special EU summit planned for Thursday in Brussels to discuss the situation in Greece and other debt-laden countries like Portugal and Spain.

Stock futures in the U.S. turned higher pointing to a rise when Wall Street opens Wednesday.

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On Tuesday in the U.S., the

Dow Jones Industrial Average

rose 1.5% to 10,058.64. The

S&P 500

gained 1.3% and

Nasdaq

finished higher by 1.2%.

-- Reported by Joseph Woelfel in New York.

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