European shares surge on Greek debt deal, led higher by banks

lunes 13 de julio de 2015 06:07 GYT

* Euro STOXX 50 up 2 pct, FTSEurofirst 300 up 1.8 pct

* Euro zone's banking index rises 2.7 pct after Greek deal

* Mid-cap Alent surges 44 pct on M&A news (Adds detail, fresh prices)

By Atul Prakash and Alistair Smout

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 to avert bankruptcy, 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.

While the Greek benchmark Athens Stock Exchange has been closed since June 26, U.S. listed Greek equity assets surged by over 10 percent in pre-market trade.

"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."   Continuación...