DAX 30 trades higher on China decision

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Source: Dukascopy
German DAX index extended gains on Monday lifted by hopes Greece would finally receive the rescue package and China's decision to ease reserve requirements. Among notable winners were HeidelbergCement AG and Infineon Technologies AG, surging 2.3% and 2.2% respectively. Financial stocks also supported DAX on the upside with Commerzbank advancing 2.3% and Deutsche Bank jumping 2.4%. At the moment of writing DAX 30 index is 1.25% or 85.40 points up at 6,933.59

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Tue, 21 Feb 2012 07:07:25 GMT

Greece receives second rescue package and escapes default

Debt-troubled Greece won EUR 130 billion (USD 173 billion) rescue package after EU governments squeezed allowances from private creditors and persuaded investor representatives to give more debt alleviation. The bailout funding will allow Greece to repay debt due March and avoid default. Greece sustained its promise and accepted additional spending cuts valued at EUR 325 million.

Mon, 20 Feb 2012 19:14:52 GMT

FTSE 100 supported by Greek hopes

British FTSE 100 index traded 0.8% higher on Monday ahead of European finance ministers meeting in Brussels as investors hoped it will result in second bailout package for Greece. Financial and resource shares which are closely linked to economic growth posted major gains. Lloyds Banking Group  advanced 3.2% and Royal Bank of Scotland climbed 3.3%. Miner Rio Tinto soared 2.5%

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