Markets buoyed as Greek MPs rubber stamp austerity package

Nervous markets were further soothed yesterday as Greek MPs passed a law to implement strict austerity measures in a second round of voting.

The move in Greece combined with positive manufacturing data in the US, boosting global equity markets overnight. Stocks in Asia and Japan were lifted by news US manufacturing unexpectedly expanded at a faster pace in June, with the MSCI Asia Pacific Index moving 0.5% higher to 135.58, set for its highest close since June 1, and the Nikkei 225 gaining 0.5%. In the US, the Dow Jones jumped 1.25% to close at 12,414.34 while the FTSE 100 edged nearer to the 6,000 barrier, finishing yesterday up 1.53% at 5945.7 points. In China, weak global demand and tighter monetary policy dragged on...