European shares start higher on Greek bailout news

European shares start higher on Greek bailout news

On Friday, European shares started higher, reacting to news of fresh bailout funds for Greece, while market participants were monitoring Sunday’s round of the French parliamentary elections.

During European morning trade, the EURO STOXX 50 managed to gain 0.40%, Germany’s DAX 30 jumped 0.36% and France’s CAC 40 grew 0.76%.

European equities surged right after the International Monetary Fund along with the euro zone's 19 finance ministers supported a payout of €8.5 billion to Greece just to prevent another debt meltdown.

However, the IMF told that it’s not going to disburse the money until the euro zone illustrates debt relief measures, which aren’t expected until 2018.

Besides this, this Sunday French President Emmanuel Macron is braced for grasping a persuasive majority in the second round of the parliamentary election.

The FTSE 100 managed to soar 0.34% in London, underpinned by Tesco. Its stocks went up 0.97% after saying first-quarter sales surge beat analysts’ hopes.

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