Markets

The fallout from the latest deal to keep Greece in the eurozone means it is now "far more likely" the UK will vote to leave the EU in the 2017 referendum, according to Société Générale strategist Albert Edwards.

Sterling has hit a fresh seven and a half year high against the euro after Bank of England governor Mark Carney suggested the UK base rate could rise at the turn of the year.

European Central Bank president Mario Draghi has joined the ranks of policymakers calling for Greece to be given debt relief as the central bank extends its liquidity lifeline to the country's banks.

Chinese equities have rallied strongly after it was revealed state banks have lent some 1.3trn yuan ($209bn) to the country's margin finance agency in the latest step to prevent a market freefall.

J.P. Morgan Asset Management's Stephanie Flanders has said that investors should "expect less of everything" in future - including investment returns - because of the weakness of the global economy.

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Greek banks could open for the first time in weeks as the nation's parliament passed through the fresh austerity measures required to secure a €86bn bailout package from the eurozone.

Inflation falling back to zero should lead to a further boost in consumer spending throughout the rest of the year, according to industry commentators.

Housebuilders' shares have taken a dive in early afternoon trading after Bank of England governor Mark Carney said a hike in interest rates is "moving closer".

UK CPI inflation fell back to zero last month, down from 0.1% in May, as the prices of clothing, fuel and food all fell.