Global equity exchange traded funds surged Thursday after European leaders reached a deal to expand the bailout fund that also includes a 50% haircut on Greek bonds.

SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA) rose 2% in premarket trading as Dow futures climbed more than 200 points before the bell.

Stock indexes in Europe also jumped on the debt agreement. Major benchmarks in France, Germany and Italy were up more than 4%. Vanguard European ETF (NYSEArca: VGK), a diversified fund, rose 2% in preopen trade. European leaders hammered out a deal after several summit meetings.

In currency markets, CurrencyShares Euro Trust (NYSEArca: FXE) climbed nearly 1% at last check.

“Overall the outcome is better than we anticipated one week ago,” said Laurent Bilke, global head of inflation strategy at Nomura International, in a Bloomberg report. “There are several issues left open, but I do believe that getting a more necessary debt relief for Greece is a pretty important step.”

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