Stocks, euro up on Greek vote, Treasuries steady

By Walter Brandimarte and Richard Hubbard

NEW YORK/LONDON (Reuters) - Stocks and the euro rose on Monday on relief after the Greek parliament passed sweeping austerity measures, but gains looked fragile with several issues still to be resolved before the shadow of a messy debt default is lifted.

Key Wall Street indexes opened more than half percent higher and U.S. crude oil prices topped $100 a barrel after Greek lawmakers backed drastic budget cuts in exchange for a 130 billion euro bailout from the European Union and the International Monetary Fund.

"There was some apprehension about it, but the fact of the matter is it was done, and it's given some very real clarity to the markets in terms of what kind of risk Greece represents to the market," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

Half an hour after the open, the Dow Jones industrial average <.DJI> was up 59.11 points, or 0.46 percent, at 12,860.34. The Standard & Poor's 500 Index <.SPX> rose 7.75 points, or 0.58 percent, to 1,350.39. The Nasdaq Composite Index <.IXIC> gained 22.56 points, or 0.78 percent, at 2,926.44.

World stocks climbed 0.77 percent according to the MSCI All-Country World Index <.MIWD00000PUS> while Europe's FTSEurofirst 300 <.FTEU3> index of top shares was up 0.7 percent.

The euro was up 0.2 percent at $1.3221, recouping some of the losses made on Friday.

Still, concerns about whether Greece will be able to fulfil its tough austerity promises left some investors cautious, keeping demand steady for safe-haven U.S. Treasuries.

Before Greece can secure a second rescue and get the $14.5 billion euros it needs to meet debt repayments due on March 20, the Greek government must convince a skeptical euro zone that it would stick to the terms of the deal.

The focus is now on a euro zone finance ministers meeting on Wednesday that is due to decide on approval of the next 130-billion euro aid package.

The benchmark 10-year U.S. Treasury note was up 3/32 in price, with the yield at 1.9741 percent.

U.S. crude oil rose 1.4 percent to $100.05 per barrel.

(Additional reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)