Markets soar after eurozone debt deal

Markets in Asia and the US soared overnight after leaders in Europe agreed a three-pronged deal to tackle the debt crisis.

London opened up this morning on the news, with the FTSE 100 climbing 2.22% to 5,676.45 soon after trading began.

Overnight overseas markets also soared. The Nikkei 225 closed up 2.04% at 8,926.54, while Hong Kong's Hang Seng Index climbed 2.47% to 19,536.89.

US markets also finished higher, with the Dow Jones gaining 1.39% to reach 11,869 and the S&P 500 climbing over 1% to 1,242.

European leaders agreed a three-pronged deal which will see the bail-out fund expanded, investors take a 50% loss on Greek debt, and banks raise capital.

In reaction the euro also strengthened, rising 1.1% against the dollar to $1,3987, while it was up 0.5% against the pound to 87.32p.