UPDATE: Markets climb as EU leaders near Greek resolution

clock •

European markets have surged on reports eurozone leaders will back a 'selective default' on Greek debt.

The single currency bounced back against the dollar to $1.434, up 0.89%, after morning losses which saw the euro fall to $1.414 against the greenback at 12pm. The main indices are also rebounding on the likelihood of a comprehensive deal on the Greek crisis, which would involve selective default as the key option. Eurozone leaders are set to kick off a crisis response that would involve a bond buyback and a debt swap but no new tax on banks, Reuters reports. The French Cac 40 surged by 1.98%, to trade at 3,828.95 points, followed by the German Dax that posted a leap by 1.26%, to tr...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK inflation jumps higher than forecast to 3.5% in 'dose of reality'

UK inflation jumps higher than forecast to 3.5% in 'dose of reality'

Interest rate hike ‘likely’

Michael Nelson
clock 21 October 2026 • 3 min read
Fahad Hassan: When good news becomes an inflation problem

Fahad Hassan: When good news becomes an inflation problem

'Markets have been adjusting to the risks through valuations all year'

Fahad Hassan
clock 29 September 2026 • 6 min read
Healey promises 'new age of industrialisation' ahead of Budget

Healey promises 'new age of industrialisation' ahead of Budget

Keeps quiet on personal taxation, pensions or savings at Labour’s conference

Isabel Baxter
clock 28 September 2026 • 2 min read