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Eurozone crisis live: World markets rise on Greek bailout hopes

Japan’s Nikkei was up almost 2% overnight, with the Dow Jones in New York closing at a four-year high

7.46am: European stockmarkets are expected to react positively to news that eurozone officials will soon approve a Greek bailout.

Investors in Asia signalled their optimism overnight with Japan’s Nikkei rallying nearly 2% and MSCI’s index of Asia Pacific shares, excluding Japan, rising as much as 1.4%. In the US, the Dow Jones index closed at its highest level in four years while the Nasdaq hit its highest level since the turn of the previous decade, amid strong US housing and employment reports.

But for Europe the biggest fillip is news that the European Union is close to agreeing a further €130bn (£108bn) bailout for the Greek government. As one source said yesterday: “We are almost there.” © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds