European shares surge on Greek debt deal, banks lead

lunes 13 de julio de 2015 04:32 GYT

* Euro STOXX 50 up 1.4 pct, FTSEurofirst 300 up 1.3 pct

* Euro zone's banking index rises 1.6 pct after Greek deal

* Mid-cap Alent surges 44 pct on M&A news

By Atul Prakash

LONDON, July 13 (Reuters) - European shares surged on Monday after euro zone leaders reached an agreement to move forward with a bailout loan for Greece following all-night talks in Brussels.

European Commission President Jean-Claude Juncker said there would be no Greek exit from the euro currency union, adding that he was convinced that Greek government and the Greek parliament would be able to pass all the decisions agreed at the summit.

"For the markets, it's clearly positive that there is an agreement among the European member states and that there is an atmosphere of co-operation," Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels, said.

"Still, there is a bit of execution risk which may haunt us in terms of volatility."

The euro zone's blue-chip Euro STOXX 50 index hit a two-week high and was up 1.4 percent by 0802 GMT, while the pan-European FTSEurofirst 300 index rose 1.3 percent to 1,563.21 points. Germany's DAX, France's CAC and Britain's FTSE 100 rose 0.7 to 1.6 percent.   Continuación...