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Markets react postively to Spanish bailout

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Markets react postively to Spanish bailout


European markets opened higher on Monday as investors reacted positively to Spain’s request for EU bailout aid.

The major stock exchanges in London, Paris, Madrid and Frankfurt were all up after the opening bell.

Financial shares saw some of the biggest gains.

Stricken Spanish lender Bankia, which was rescued by the government last month, saw the price of its shares soar by more than 18 percent in Madrid.

The country’s two biggest banks also climbed.

Banco Santander was up by more than five percent, while BBVA rose by six percent.

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