Euro, stocks rally, Spain gets respite but Portugal hit (AFP)

NEW DELHI: European stocks rallied at day's open as fears of a China wash-out ebbed away with Chinese authorities working throughout yesterday to stem the rot in their bourses. The cheer spread throughout European markets as Greek Prime Minister Alexis Tsipras implied that Greece is not headed for a Euro exit when he stated that he does not have the mandate for a 'Grexit.' That statement from Athens calmed down investors across Europe and cooled down markets to some stability.

London (AFP) - Europe's main stock markets rallied Tuesday, recording a second day of gains on hopes of a deal being struck on Greece's debt, with a rebound in oil prices helping energy shares.

Hong Kong (AFP) - Asian markets rallied Monday after China's surprise move last week to cut interest rates for the first time in more than two years as its leaders try to strengthen growth.

Marc Chandler submits:Ideas that at its meeting tomorrow the ECB may take additional measures to stem the financial crisis that has threatened this week to spread outside the periphery and toward countries like Belgium, are prompting some position adjustment in both the foreign exchange and fixed income markets.

Following last Friday's shocking weak US GDP print, Asian stocks jumped to an 11 month high on reduced prospects of a near-term rate hike, while the region also digested mostly encouraging in conflicting Chinese PMI data. European bank stocks initially rose following the release of the 2016 stress test then declined, tempering gains in global equity indexes, amid investor skepticism over the usefulness of stress-test results and weaker oil prices. Shares and currencies in emerging markets rallied to the highest in about a year, while miners and industrial metals jumped.

Hong Kong (AFP) - Most Asian markets rose Friday, taking a positive lead from Wall Street where the Nasdaq broke a 15-year-old record high, while the euro ticked higher ahead of a key eurozone meeting to discuss Greece's debt crisis.