European markets steady after Spanish debt auction

European markets were firmer this morning after the results of the much-anticipated Spanish debt auction were annouced.

Spain auctioned slightly more debt than planned, €2.541bn, compared with a maximum target of €2.5bn. Some €1.425bn of the 10-year bonds were sold   at a maximum yield of 5.788% (up from 5.4%) but below the crucial 6% level. For the two-year bonds, €1.116bn were sold, at a maximum yield of 3.463% The FTSE 100 was trading 0.45% higher at 5,771, the Dax was up 0.71% at 6780 and the French Cac was 1.02% higher mid-morning. Wealth manager Hargreaves Lansdown saw its shares rise strongly after it reported a record of £26bn asset under administration in the first quarter. Shares were trad...