Global markets and exchange traded funds (ETFs) gained as the world breathed a collective sigh of relief on news of additional financial aid for the beleaguered Greek economy.
SPDR DJ STOXX 50 ETF (NYSEArca: FEU) is up 2.98%, Vanguard European ETF (NYSEArca: VGK) is up 1.42% and iShares S&P Europe 350 Index Fund (NYSEArca: IEV) is up 1.42%.
Rydex CurrencyShares Euro Trust (NYSEArca: FXE) is up 0.65% and WisdomTree Dreyfus Euro Fund (NYSEArca: EU) is up 1.17%.
Luxembourg’s Jean-Claude Juncker, the leading euro-area finance minister, announced that European Union leaders are cogitating on a new aid package for Greece, report Stephen Kirkland and Nikolaj Gammelto Bloomberg. [Greece Bailout Catapults Stock ETFs Higher.]
The news sparked a small respite in European stocks and quickly spread out to global markets. The euro currency also strengthened against a basket of currencies on the optimistic outlook.