OECD, Greece, help European stocks

The pan-European DJ Stoxx 50 was up 0.6 percent in midday trading. The major markets of Britain, France, Germany, Sweden and Italy also rose with an average gain of about 0.5 percent.

"We are pleased because there has been very heavy demand" government spokesman George Petalotis said, referring to the bond issue, which had been postponed last week.

The new bond issue capitalized on the Greek Cabinet's approval Wednesday of $6.5 billion in spending cuts and tax increases that convinced investors the government was serious about financial reform.

Investors could also take confidence from Friday's Organization of Economic Cooperation and Development report that said composite leading indicators for the 30-nation OECD area rose 0.8 percent in January.

The CLI figures point to economic expansion in China, Japan, the United States and Europe. Russia's leading indicators also suggest expansion. In Brazil and India, the figures suggest a recovery, OECD said.

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