European markets expected to surge today

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.