European markets rise as optimism over a possible Greece deal strengthens

Shares went up across European markets today, as signs of a possible deal between Greece and its creditor nations boosted confidence. 

 

Eurozone finance ministers are currently meeting in Riga, Latvia, to discuss a bailout for the southern European nation, which is approaching another deadline over its debt crisis. 

 

Today German Chancellor Angela Merkel said yesterday's talks with Greek Prime Minister Alexis Tsipras had been "constructive". 

 

Meanwhile, Greek finance minister Yanis Varoufakis took an upbeat tone in a blog post, saying Athens and its creditor nations “agree on much”, including a necessary reform for the nation's tax and pension systems and labour market. 

 

This led to a positive reaction from investors in the ATG index in Athens, which rose 4.3 per cent in morning trading before then falling back slightly. However, it remains higher. Greek bank stocks also rose 10.4 per cent.

 

Additionally, investors were encouraged by a survey showing German business morale was at its highest level this month in almost a year. 

 

The Dax 30 index in Frankfurt rose one per cent in morning trading, but has now fallen slightly to 11,738 – still 0.13 per cent higher than yesterday.

 

By mid-morning, France's Cac had also risen 0.8 per cent, while the FTSE 100 was 0.6 per cent higher at 7,092.5, approaching the record peak of 7,119.40 it achieved last week.