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Share prices bolstered by government guaranties

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Share prices bolstered by government guaranties


European markets have reacted positively to finance ministers agreeing to safeguard the region’s lenders after doubts about whether a second Greek bailout would go ahead.

On opening on Wednesday, European shares rose by 2.8 per cent after falling for three days.

Wednesday’s increase in share prices also comes after governments in France and Belgium agreed to help financial institution Dexia SA, which is heavily exposed to Greek debt and saw its share price fall by as much as 38 per cent on Tuesday.

The positivity comes despite the cut to Italy’s credit rating by ratings agency Moodys from Aa2 to A2 with a negative outlook.

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