ROME: Europe’s stock markets have finished higher as optimism surged ahead of a deadline for Greece to submit new bailout plans, while a rebound in Chinese shares boosted sentiment.
Frankfurt’s DAX 30 finished 2.3 per cent up at 10,996.41 points, while the CAC 40 in Paris ended 2.6 per cent higher at 4,757.22 points.
Outside the eurozone, London’s benchmark FTSE 100 index of leading companies ended the day 1.4 per cent ahead at 6,581.63 points, after the Bank of England decided to keep its main lending rate at 0.50 per cent, where it has stood for more than six years.
But it was largely reports of possible movement towards a maddeningly elusive Greek rescue plan that influenced most trading on Thursday, with news suggesting Athens was ready to accept increased belt-tightening as creditors considered debt relief.
“The markets have really taken any positivity over a Greek deal to heart this afternoon, with the DAX and CAC surging to three-digit gain,” Connor Campbell, analyst at Spreadex trading group, said.
Investor outlook remained positive even after the International Monetary Fund lowered its 2015 global economic growth forecast on Thursday, citing a likely “temporary setback” from the United States in the first months of the year.
