Markets respond positively to Spanish bank bailout

Markets in Europe and Asia have risen in response to the bailout of Spain's banks that was agreed over the weekend.

On Saturday, eurozone ministers agreed to lend Spain's banks up to 100bn euros ($125bn; £80bn).

In morning trading, the FTSE 100 in London rose 1.4%, the Dax in Frankfurt was up 2.1% and Cac 40 in Paris was up 2.2%. Spain's benchmark index, the Ibex in Madrid, rose 3.8%.

The euro gained more than one cent against the US dollar.

Mike Wooldridge reports.

  • World