European markets are expected to surge today after eurozone finance ministers agreed to lend Spain up to $125 billion to help its battered banks.
Financial spreadbetters predicted the following:
- Britain's FTSE 100 to open about 99 points higher, or 1.8 percent.
- Germany's DAX to jump 159-161 points, or as much as 2.6 percent.
- France's CAC-40 to climb 60 to 64 points, or as much as 2.1 percent.
But investors are expected to remain cautious with the focus set to shift to Greece's re-run election on June 17 which could determine whether the country stays or leaves the eurozone.
George Osborne brands the Spanish bail-out as 'depressing' as the Government began paying more to borrow money than ever before.
Andreas Dombret, a board member of the Bundesbank, explains in a rare interview Germany's tough stance over euro crisis solutions.
With 18 of Spain's banks downgraded and the country's cost of borrowing rising, it begs the question: did the bail out happen at all?