10 Apr 2010

Markets rise on reported Greece deal

11:04 am on 10 April 2010

The euro has jumped and stock markets have risen on reports that eurozone leaders have agreed on the details of a plan to rescue debt-ridden Greece.

According to the BBC, the reports said leaders had finally agreed an interest rate at which to lend money to Greece, should it be needed.

As a result, the euro gained more than 1 cent on the dollar, to $US1.3466.

The Athens stock exchange rose 3.4% despite ratings agency Fitch downgrading Greek government debt earlier on Friday.

Other leading European markets also gained ground, with the UK's FTSE 100 index up 1%, Germany's Dax gaining 1.3% and France's Cac 40 rising 1.8%.

In the US, the main Dow Jones index briefly breached 11,000 points for the first time in 18 months, before closing up 0.6% at 10,997.