GLOBAL MARKETS-World stocks edge up; dollar pressured

* World stocks edge up; BP surges

* Bank of America, GE post solid results

* Dollar <.DXY> pressured on U.S. economy concerns

* U.S. CPI data eyed

By Tamawa Desai

LONDON, July 16 (Reuters) - World stocks edged up on solid U.S. earnings results on Friday but fears the U.S. economy may be slowing pushed the dollar to a seven-month low against the yen and a two-month trough against the euro.

U.S. stock futures rose 0.3 percent , pointing to a higher Wall Street open. U.S. stocks ended flat on Thursday after a sudden turnaround in Goldman Sachs and BP.

News on Thursday that BP had plugged an oil spill that started in mid-April sent the oil giant's shares up 4 percent in London by late Friday morning, after its U.S. shares gained 7.6 percent on Thursday. It helped the FTSEurofirst 300 index <.FTEU3> gain 0.4 percent by midday on Friday.

U.S. banking giant Bank of America Corp posted solid results, with earnings per share of 27 cents beating forecasts of 22 cents. [ID:nASA00J04]

Shares in General Electric Co rose after second-quarter results showed double-digit EPS growth of 15 percent. [ID:nASA00J01] The market was also awaiting results from Citigroup .

"The companies are reporting better-than-expected results, which is very welcome news at a time when everybody is so concerned about the loss of recovery momentum in the global economy," said Mike Lenhoff, chief strategist at Brewin Dolphin.

The MSCI world equity index <.MIWD00000PUS> was steady, up 0.1 percent at 286.15. The Thomson Reuters global stock index <.TRXFLDGLPU> fell slightly.

GROWTH CONCERNS

A bright start to second-quarter U.S. earnings has been overshadowed, however, by growing concerns about the world's largest economy.

Asian stocks fell, with Japan's Nikkei average <.N225> dropping nearly 3 percent for its worst one-day percentage loss in more than a month [.T].

U.S. shares had spent much of Thursday in negative territory following an unexpected fall in regional factory activity and as a drop in producer prices for a third straight month raised concerns about deflation. [ID:nN15196157]

Market focus will be on U.S. inflation data, due out at 1230 GMT. Economists forecast the June consumer price index was flat on the month after falling 0.2 percent in May.

The dollar stayed under pressure, slipping to two-month lows versus a currency basket <.DXY>, while the euro gained as traders focused on a rise in euro zone money market rates.

"The euro's going up on light volume, there's not much liquidity today but European yields are rising and that's helping to drag the euro higher," said Paul Mackel, director of currency strategy at HSBC.

The euro rose to a two-month high of $1.2986 after jumping 1.6 percent against the greenback the previous day.

Receding concerns about euro zone sovereign debt problems also buoyed the euro after smooth absorption of euro zone peripheral bond auctions earlier this week.

The dollar fell within a whisker of its July 1 low of 86.96 yen, its lowest since early December.

Growth-linked currencies such as the Australian and New Zealand dollars also fared poorly. The Aussie fell 0.4 percent while the Kiwi was down 1.4 percent against the U.S. dollar, hurt by weaker-than-expected inflation data.

Lower U.S Treasury yields, with the two-year yield falling to a record low of 0.58 percent on Thursday, also undermined the greenback.

Bund futures were down 0.2 percent as European shares gained.

Oil erased early losses and rose slightly to near $77 a barrel while gold edged down .

(Additional reporting by Atul Prakash and Neal Armstrong in London; Editing by Susan Fenton)