* Euro zone ministers tell Greece not yet on 12 bln euros
* Safe-havens rise, risky assets fall on euro zone anxiety
* European equity fear gauges jump as uncertainty rises
(Adds opening of U.S. markets, dateline, byline)
By Dominic Lau and Herbert Lash
LONDON/NEW YORK, June 20 Global stocks dipped
and crude oil fell on Monday after euro zone finance ministers
delayed a decision on extending emergency loans to Greece,
though the euro trimmed losses against the dollar on comments
the size of a European bailout fund would grow.
Yields on safer U.S. Treasuries and German Bunds slipped
and gold prices held steady above $1,530 an ounce as investors
sold assets perceived as risky and sought safety in government
Euro zone finance ministers meeting in Luxembourg said
Greece had to show progress on plans to cut spending, raise
taxes and generate new revenue streams before a final decision
is made on a further 12 billion euros ($17 billion) in loans.
For details see: [ID:nLDE75I0FM]
"The market is hungry for an actual agreement to be signed,
sealed and dusted," said Credit Agricole analyst Robin Bhar.
"Markets are just starting the week slightly risk averse,
having had a good bounce on Friday."
Wall Street hovered near break-even after U.S. markets
opened, and the euro's losses eased after the chief of the
European Financial Stability Facility said the fund's
guarantees will be raised to 780 billion euros from 440
The Dow Jones industrial average .DJI gained 1.63 points,
or 0.01 percent, to 12,005.99. The Standard & Poor's 500 Index
.SPX dropped 0.77 points, or 0.06 percent, to 1,270.73. The
Nasdaq Composite Index .IXIC gained 0.11 points, or 0.00
percent, to 2,616.59.
The euro rose as high as $1.43060 EUR=EBS on trading
platform EBS and was last at $1.42950, up 0.2 percent on the
World stocks measured by the MSCI All-Country World Index
.MIWD00000PUS fell 0.3 percent after a three-week decline.
Crude oil prices extended last week's losses, with risk
aversion rising after the delay in emergency loans to Greece.
Brent crude LCOc1 fell by 82 cents a barrel to $112.39 a
barrel, while U.S. oil CLc1 lost 30 cents a barrel to $92.71
Benchmark 10-year notes US10YT=RR rose 6/32 in price to
yield 2.92 percent, down from 2.94 percent late on Friday.
"The finance ministers have set a time frame now. The
question is will there be any great surprise," said Tom Tucci,
head of government bond trading at RBC Capital Markets in New
Adding to concerns, Moody's late Friday threatened to cut
Italy's credit ratings in the next 90 days on worries that the
Greece crisis may drive interest rates higher and derail
Italy's economic recovery. [ID:nN17266057]
Gold reversed gains, but the precious metal remained
supported by euro zone debt woes after the delay on emergency
loans to Greece. [ID:nLDE75J0QG]
Banks led European shares lower after euro zone finance
ministers delayed a decision on extending emergency loans to
Greece and ratings agency Moody's threatened to cut Italy's
credit rating. [ID:nLDE75J0MN]
Investor appetite for riskier stocks fell, with the Euro
STOXX 50 volatility index .V2TX, one of Europe's main gauges
of investor anxiety, rising 11 percent to its highest level in
three months. The gauge later pared gains to trade up 6.7
(Additional reporting by Karen Brettell and Gertrude
Chavez-Dreyfuss in New York; William James, Zaida Espana,
Marie-Louise Gumuchian and Sue Thomas in London; Writing by
Herbert Lash; Editing by Padraic Cassidy)