European markets jump after Spanish bailout

Europe's major markets climbed on the first day of trading after Spain was granted a €100bn bailout for its banking sector over the weekend.

The FTSE 100 rose 1.4% to 5,510 at the start of the session, while the French Cac 40 was 2% higher at 3,112, and the German Dax was up 2.2% to 6,267. The Euro Stoxx climbed 2.42% to 2,195. Santander shares are up 5% to €5.09 while BBVA has gained 6.2% to €5.47 in Madrid after Spain’s bailout request. News of the rescue deal lifted Asian markets overnight, with the Nikkei up almost 2% and the Hang Seng up 2.23%. The euro strengthened almost 1% against the dollar before falling back as markets digested the news of the rescue package. In the bond markets, the yield on Spanish 10-ye...