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Modest market gains despite eurozone crisis

Modest market gains despite eurozone crisis
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Stock markets have been bouncing back across Europe after a string of continuous losses. Exchanges in London, Paris, Frankfurt and Milan all showed modest signs of recovery as they opened – though the markets are still showing considerable signs of caution.

Tension is still high after last week’s stress tests failed to convince investors that Europe’s banks could withstand another financial crisis.

There is also uncertainty about the outcome of Thursday’s summit of EU leaders to address the debt crisis in the eurozone.

Governments and banks are struggling to agree on a second emergency bailout package for Greece on top of the 110-billion euros given in May last year.

It is believed that leaders will indeed come up with another rescue package, as they work to stop the crisis in Greece spreading elsewhere in the eurozone.

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