Spain rumours lift European stocks; Apple hits new peak

European markets were well into positive territory in afternoon trading, lifted by Spanish bailout talk, while in the US, Apple's latest iPhone sent its shares up to a new peak.

The French Cac 40 was up 0.84% to 3,539 and the Euro Stoxx was up 1% to 2,579 by 3pm, amid reports EU leaders are preparing to unveil a new rescue package for Spain as early as next week. However, in London, the FTSE 100 was trading flat, with investors waiting to see whether two of the market’s biggest companies, Xstrata and Glencore, will go ahead with their proposed merger. The deadline for the board's response to the proposed "take it or leave it" offer is on Monday. Both stocks were among the biggest losers mid-afternoon on London's leading index. Across the pond, the US’ main...