21 July 2011 Last updated at 14:53 GMT
All eyes are on the eurozone debt summit in BrusselsGlobal stock markets have risen on reports that eurozone leaders have reached a provisional agreement on measures to tackle the eurozone debt crisis.
The draft includes the possibility of a Greek bond swap and a debt restructuring, reports suggest. A bank tax has not been included, they say.
The Milan stock exchange rose by 4% while the Spanish market gained 3%. US shares also opened sharply higher.
European banking shares led the way.
In Germany, Commerzbank climbed almost 9% and Deutsche Bank rose 3.6%, while in France Societe Generale and Credit Agricole gained about 6%.
And in the UK, Barclays rose almost 10%, while Lloyds Banking Group and Royal Bank of Scotland were up more than 7%.
Global shares jump on reports of eurozone debt deal
All eyes are on the eurozone debt summit in BrusselsThe draft includes the possibility of a Greek bond swap and a debt restructuring, reports suggest. A bank tax has not been included, they say.
The Milan stock exchange rose by 4% while the Spanish market gained 3%. US shares also opened sharply higher.
European banking shares led the way.
In Germany, Commerzbank climbed almost 9% and Deutsche Bank rose 3.6%, while in France Societe Generale and Credit Agricole gained about 6%.
And in the UK, Barclays rose almost 10%, while Lloyds Banking Group and Royal Bank of Scotland were up more than 7%.
From other news sites
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Reuters Canada Europe eyes sweeping new powers for rescue fund 34 mins ago
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Yahoo! Finance Europe Said to Accept Temporary Greek Default in Rescue 1 hr ago
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The Independent Barroso confident of eurozone deal new 1 hr ago
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New York Times Greek Rescue Plan May Allow for Default on Some Debt 1 hr ago
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Guardian.co.uk The eurozone summit is make or break for Greece 4 hrs ago
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