LONDON - Investors have pushed stock markets in Europe and Asia higher after pro-bailout parties won enough votes in Greece's parliament elections to form a government.
Greece's stock exchange jumped more than 6 percent in early trading, while European markets were broadly up more than 1 percent.
Japan's Nikkei index finished the day up nearly 2 percent, and in Hong Kong, the Hang Seng gained more than 1 percent.
The results in Greece also boosted the euro as concerns about the country possibly leaving the currency eased.
But analysts cautioned Monday that challenges still remain in Greece, Europe and the world economy, and that any rally could be short-lived.
The European Union and the International Monetary Fund have placed harsh austerity conditions on Greece in exchange for bailout funds.
The cuts are not popular in Greece, where parties opposed to the package have called for it to be annulled. The ongoing turmoil in the 17-member eurozone has affected markets outside of the continent.
timesofearth.com
Greece's stock exchange jumped more than 6 percent in early trading, while European markets were broadly up more than 1 percent.
Japan's Nikkei index finished the day up nearly 2 percent, and in Hong Kong, the Hang Seng gained more than 1 percent.
The results in Greece also boosted the euro as concerns about the country possibly leaving the currency eased.
But analysts cautioned Monday that challenges still remain in Greece, Europe and the world economy, and that any rally could be short-lived.
The European Union and the International Monetary Fund have placed harsh austerity conditions on Greece in exchange for bailout funds.
The cuts are not popular in Greece, where parties opposed to the package have called for it to be annulled. The ongoing turmoil in the 17-member eurozone has affected markets outside of the continent.
timesofearth.com
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