Markets buoyed, euro soars as leaders strike debt deal

clock

London's FTSE jumped 2% in early trading on Thursday after European leaders agreed a deal to tackle the debt crisis.

The index was more than 100 points, or 1.9%, higher at 5,654 shortly after opening. Overnight, major indices in the US and across Asia were also lifted as news of the deal spread. The Nikkei 225 gained 2.04% to reach 8,926.54, while Hong Kong's Hang Seng Index climbed 2.47% to 19,536.89. US markets also closed up, with the Dow Jones gaining 1.39% to reach 11,869 and the S&P 500 climbing over 1% to 1,242. European leaders agreed a three-pronged deal last night to expand the bail-out fund and for banks to take losses on Greek debt in exchange for recapitalisation. The euro also...

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

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read