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Stocks rally as euro leaps on likely rate hikes

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By Herbert Lash and Marc Jones NEW YORK/LONDON (Reuters) – U.S. and European stocks mostly rallied on Monday, with the S&P 500 trading just above bear market territory, while the euro jumped after the European Central Bank said it was likely to lift its deposit rate out of negative territory by September. Oil prices slid and gold extended recent gains, but the dollar fell further as investors cut their bets on more advances in the greenback based on market expectations of yields moving higher still from Federal Reserve monetary tightening. The MSCI all country world index gained 1.14%, though …

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