Economics / Markets

World stock markets rose after midday on better-than-expected US jobs data.

UK investors bought a fifth of the €5bn 10-year bonds sold by Greece yesterday.

The FTSE opened higher this morning at 5,555.68, up 28.52 (0.52%), following gains in Asia and the United States overnight.

Eurozone interest rates have been held at 1% today for the tenth month in a row.

Interest rates were today held at 0.5% by the Bank of England's Monetary Policy Committee (MPC), marking one year since they hit the record low.

Greece is prepared to turn to the IMF for help if its European neighbours fail to provide the financial assistance it wants after announcing the toughest spending cuts in decades.

The euro has risen against the dollar this morning after the Greek government unveiled 4.8bn euros worth of austerity measures.

Financials rose this morning, but could not prevent the FTSE falling 0.2%, or 8.8 points to 5475.28.

The City regulator has warned the cost of bailing out the banking sector could be as much as £140bn - far higher than Treasury forecasts.

The euro has fallen to a 10-month low against the dollar, amid poor economic data and ongoing concerns about the stability of the Greek economy.