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Market rise on Greek hopes

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Market rise on Greek hopes

Market rise on Greek hopes
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European stocks rose for the first time in three days with the benchmark Stoxx Europe 600 Index rebounding from a two year low.

The euro edged higher against the dollar on hopes European leaders will find a way to alleviate Greece’s simmering debt crisis.

In France Societe Gererale the country’s second largest lender jumped over seven and a half per cent easing an earlier slump. Banking shares were the best performers as a group in the Stoxx 600.

BMW and Daimler the world’s biggest makers of luxury cars surged over three per cent, Peugeot, Citroen also recorded a rise.

Market confidence though suffered a blow when Italy had to pay the highest yield since it joined the euro zone in 1999 to sell five year bonds.