ROME: European stocks climbed to a seven-week high Thursday, as Greek lawmakers and European officials made moves toward replenishing liquidity to Greece’s parched financial system.
The Stoxx Europe 600 SXXP, +1.35% rose 1.4% to 405.34, on track for its best finish since late May 28, according to FactSet data. The pan-European index was poised for its seventh consecutive gain, the longest winning streak since a six-session run in mid-February.
Funding: Equities strengthened as eurozone finance ministers agreed in principle to Greece’s request for a three-year bailout. That decision come after the country’s parliament approved tough austerity measures sought by its creditors in exchange for further financial aid. The reforms must still be approved by parliaments in a handful of the currency union’s members.
