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.
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.