US shares near 2011 highs on Greece optimism

Shares in the US raced near to highs last seen in 2011, while UK indices reached new highs for 2012, as investors welcomed further talks between Germany and Greece.

The US was on course for its highest close since May last year, with the S&P 500 climbing marginally to 1,359.8 points shortly after opening. The index has surged since the start of the year and is nearing highs seen before the credit crunch back in 2008, when the S&P 500 was trading above 1,400 points. Investors were buoyed by the latest talk from Europe that an agreement on a bailout of Greece is imminent. Other markets were also firmer, with the Dow up 0.3% or 33.91 points, at 12,938, while UK and European shares kept hold of earlier gains. The FTSE 100 was up at 0.6% or 33.4...