GLOBAL MARKETS-Alcoa results lift equities, dollar gains on economy view

* Alcoa (NYSE: AA - news) 's better-than-expected results boost investor

sentiment

* Dollar strengthens on hope end of bitter winter to boost

growth

* Brent oil rises toward $108 a barrel on Ukraine worries

(Adds opening of U.S. markets, changes dateline; previous

LONDON)

By Herbert Lash

NEW YORK (Frankfurt: HX6.F - news) , April 9 (Reuters) - U.S. and European equity

markets rose on Wednesday after Alcoa's better-than-expected

results boosted investor sentiment on first-quarter corporate

earnings, while the dollar gained on hopes for higher U.S.

economic growth after a bitter winter.

Alcoa's earnings came in ahead of analysts' expectations in

the first three months of the year late on Tuesday even as the

company's adjusted profit fell on declining aluminum prices.

Shares of Alcoa gained 4.3 percent to $13.065, vying

for the best performer spot among components of the benchmark

S&P 500 index.

Earnings for companies in the S&P 500 are projected to have

increased just 1 percent from last year's first quarter, Thomson

Reuters data showed. The forecast is down sharply from the start

of the year, when profit growth was estimated at 6.5 percent.

"These kinds of consolidation rallies really take time to

shake out the emotion that goes with both sides," said Rick

Meckler, president of hedge fund LibertyView Capital Management

in Jersey City, New Jersey.

"Earnings will really help give this market some forward

direction, but they are in front of us and haven't really hit

yet," Meckler said.

The pan-European FTSEurofirst 300 index of leading

regional shares rose 0.3 percent, while MSCI (NYSE: MSCI - news) 's all-country

equity index rose 0.22 percent.

The Dow Jones industrial average was up 39.82 points,

or 0.24 percent, to 16,295.96. The S&P 500 gained 4.61

points, or 0.25 percent, to 1,856.57 and the Nasdaq Composite

added 26.465 points, or 0.64 percent, to 4,139.451.

The dollar rebounded from one of its worst performances

against the yen as the outlook for the greenback brightened on

expectations for stronger economic data.

The dollar posted its largest one-day fall versus the yen in

more than seven months on Tuesday, with investors buying back

the Japanese currency after the Bank of Japan held off on

additional monetary easing. The greenback's bounce on Wednesday

was the first in four days.

"Our view going into 2014 is broad-based dollar rally

predicated on the acceleration of the U.S. economy and rising

U.S. rates," said Mark McCormick, currency strategist at Credit

Agricole in New York.

After hitting lows of 101.52 yen in U.S. trade on

Tuesday, the dollar recovered to trade 0.05 percent higher at

101.84. The euro was up 0.2 percent against the yen at 140.77

.

Against the dollar, the euro was up 0.2 percent at

1.3822.

U.S. Treasuries prices fell as traders trimmed their bond

holdings in advance of a $21 billion auction of 10-year notes

and the Federal Reserve's release of the record of its policy

meeting last month.

The benchmark 10-year Treasury note was down

4/32 in price to yield 2.705 percent.

"Treasuries have had a good run. There's some risk with this

week's supply," said Robert Tipp, chief investment strategist at

Prudential Fixed Income in Newark, New Jersey.

Brent crude rose toward $108 a barrel as rising tension

between Russia and Ukraine overshadowed the bearish impact of a

substantial rise in crude oil stockpiles in the United States.

While the Ukraine crisis may not directly impact global oil

supplies and trade, the risk premium on oil is rising as

investors worry the Kremlin (Berlin: KMLK.BE - news) 's stand-off with the West could

quickly take a turn for the worse.

Brent crude rose 19 cents to $107.86 a barrel. U.S.

oil rose 21 cents to $102.77.

(Reporting by Herbert Lash; Additional reporting by Marc Jones

in London; Editing by Dan Grebler)