Markets climb as Greece gets backing for second bailout

Shares across Europe rose in morning trading as the eurozone's decision to back a second €130bn (£109bn) bailout boosted hopes for an economic recovery.

In London the FTSE 100 gained 0.54% to 5,924, its highest level since the start of the month. Germany's Dax also climbed 0.81% to 6,957, while France's Cac 40 gained 0.8% to reach 3,517. Investors were lifted after it was reported Greece will receive its first €5.9bn installment from the European Financial Stability Facility (EFSF), the eurozone's temporary rescue fund, this month. This will be followed by another €3.3bn in April and €5.3bn in May, EFSF chief executive Klaus Regling said. Overnight US stock markets were mixed, with the Dow gaining 0.29% to 12,959, and the S&P 50...