* U.S., European stocks rise but gains seen short-lived
* Greek CDS at record high; euro at record low vs Swiss
* China data, U.S. growth concerns prompt risk unwinding
* U.S. oil prices fall, gold near 10-day lows (Updates markets, adds quote)
By Richard Leong
NEW YORK, June 13 (Reuters) - U.S. and European stocks rose modestly on Monday after six-weeks of losses enticed bargain-hunting investors back into the market, while the euro fell on nagging worries over Europe's attempts to solve the Greek debt crisis.
Weaker Chinese data fueled concerns about slowing global growth, briefly knocking non-U.S. shares to a 12-week low, according to the MSCl Global Equity Index <.MIWD00000PUS>. Gains in U.S. and European stocks <.FTEU3> subsequently helped stabilize it.
Reduced risk appetite led to an unwinding of positions in oil and precious metals.
"The market has been oversold over the last six weeks, so a short-term rebound on short-covering is not out of the question," said Chad Morganlander, portfolio manager at Stifel, Nicolaus & Co in Florham Park, New Jersey.
In U.S. trading, the Dow Jones industrial average <.DJI> was up 19.72 points, or 0.16 percent, at 11,971.63. The Standard & Poor's 500 Index <.SPX> was up 2.26 points, or 0.18 percent, at 1,273.24. The Nasdaq Composite Index <.IXIC> was up 0.52 points, or 0.02 percent, at 2,644.25.
The S&P 500 has lost nearly 7 percent on a barrage of disappointing economic data after closing on April 29 at its highest closing level in nearly three years.
FTSEurofirst 300 <.FTEU3> rose 0.3 percent as investors nabbed battered European shares. But the index is still down 2.5 percent so far this year. [US/]
However, Monday's gains failed to inspire confidence of a turnaround in global stocks.
The world stock benchmark, the MSCI, has lost nearly 8 percent since hitting a three-year peak in late April and is very close to erasing all of its 2011 gains.
"Despite the fact you have a slight rebound after several weeks of decline, U.S. and global equities will stay under pressure," said Komal Sri-Kumar, chief global strategist at TCW in Los Angeles, which oversees $121 billion in assets.
In Asia, Chinese stocks ended at a 4-1/2 month low, hit by worries about the impact of monetary policy tightening in an economy which is a key driver of world growth.
China's money growth slowed to a 30-month low in May and banks extended fewer new loans than expected, while exports to the United States and EU hit their weakest since late 2009. For more, see: [ID:nL3E7HD08U]
GREEK DEAL WEIGHS
An increasingly gloomy economic outlook and Greece's fiscal predicament have stacked the odds against risk-taking.
Investors are concerned by signs policymakers are struggling to reach an agreement on a second bailout for Athens and that any moves to involve private investors will wind up triggering a technical debt default.
The cost of insuring Greek sovereign debt against default rose to an all-time high, while the euro hit a record low against the safe-haven Swiss franc.
Uncertainty over future U.S. monetary policy after the Federal Reserve's $600-billion bond purchase program ends this month also added to investor aversion to taking on riskier assets, especially going into the thinly traded summer months.
European leaders are due to complete a new rescue package for Greece at a Brussels summit on June 23-24, but deep divisions remain about how to get the private sector involved.
Five-year credit default swaps on Greek sovereign debt rose 58 basis points on the day to a record high of 1,600 bps, according to data monitor Markit.
"What the euro needs is a resolution to the Greek crisis and the politicians and the central bankers do not appear to be close to finding one," said Kit Juckes, currency strategist at Societe Generale in London. "That uncertainty is weighing on the euro."
The euro fell against the Swiss franc, but gained versus the U.S. dollar on expectations that euro zone interest rates would remain higher than those in the United States.
The euro touched a record low of 1.2004 Swiss francs on the EBS trading platform
The euro
In the oil market, U.S. crude oil
Bullion prices fell to the lowest in about 10 days as the euro eased against the dollar. Spot gold
In government debt trading, benchmark U.S. 10-year yields