Markets shrug off Portuguese bailout to open firmer

Markets have opened firmer across Europe despite Portugal's request for €80bn, with investors waiting on interest rate announcements in the UK and Europe later today.

The UK is expected to keep interest rates at the record low of 0.5%, even as inflation soars to 4.4%. They have not moved since March 2009. Meanwhile, the ECB are expected to raise interest rates by 25 basis points to 1.25% to tackle price rises, after inflation climbed to 2.6% across the region. Markets moved higher in early trading ahead of the decisions, shrugging off news that Portugal has requested €80bn in state aid. The FTSE 100 is up 0.11% to 6,048, with the French Cac up 0.25% to 4,058, and the German Dax ahead 0.01% to 7,216. Elsewhere, in the US the Dow Jones advanced...