Markets rally on Report Greece accepts Creditor Terms

Eurozone stocks and peripheral bonds rallied on Wednesday, extending gains after a report that Greece was ready to accept most conditions from its international creditors in order to reach a deal over its debt crisis.

Greek Prime Minister Alexis Tsipras was prepared to accept creditors’ demands for a bailout with only a few minor changes, the Financial Times said.

The FTSEurofirst 300 extended gains, up 1.5 pct, with the euro zone blue-chip Euro STOXX up 2.1 percent.

The euro trimmed losses against the dollar to trade at $1.1535, flat on the day, while against the British pound it turned higher to trade 0.4 percent higher on the day.

German 10-year yields rose 4.3 basis points to a day’s high of 0.82 percent while Spanish, Italian and Portuguese equivalents fell 6-8 bps to 2.22 percent, 2.25 percent and 2.90 percent, respectively.

Source: Reuters