This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-33341163

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
Greece debt: FTSE 100 rebounds despite Greece missing payment Greece debt: FTSE 100 jumps on Tsipras letter reports
(about 2 hours later)
(Open): Shares in London and across Europe have rebounded despite confirmation that Greece missed its deadline for a payment to the IMF. Shares in London and across Europe have risen sharply on reports that Greece will accept most of its creditors' bailout conditions.
Greece is the first advanced country to fail to repay a loan to the IMF and is now formally in arrears. The FT reported that Greek Prime Minister Alexis Tsipras had sent a letter on Tuesday saying Greece would accept most of the conditions offered last weekend.
However, eurozone finance ministers say they will discuss a last-minute request from Greece for a new two-year bailout later on Wednesday. The news ignited European markets, with the FTSE 100 up 1.5% at 6,618.06.
The FTSE 100 rose 53.96 points, or 0.8%, to 6,574.94. Germany's Dax index was up 2.1%, while France's Cac 40 index jumped 2.3%.
Elsewhere in Europe, Germany's Dax index was up 1.1%, while in France, the Cac 40 index climbed 1%. The news also led to Greek bond prices rising, cutting their yields, and yields in Spanish, Italian and Portuguese bonds also fell.
On the currency markets, the euro fell 0.3% against the dollar to $1.1111. The pound rose 0.2% against the euro to €1.4138 and was flat against the dollar at $1.5711. On Tuesday, Greece missed its deadline for a €1.6bn payment to the International Monetary Fund (IMF),
On the London market, shares in Greene King rose 1.2% after the pub operator's full-year profits came in ahead of expectations. It meant Greece is the first advanced country to fail to repay a loan to the IMF and is now formally in arrears.
Pre-tax profit for the year to 3 May was £168.5m, with group revenues up 3% to £1.31bn. Two key meetings are to take place to discuss aid for Greece on Wednesday. In one, officials with the European Central Bank (ECB) will decide whether to grant an emergency loan to Greece.
In the FTSE 250, shares in Serco jumped 12.7% after the outsourcing company said it was still on track to meet its financial targets for the year. In the second, eurozone finance ministers will discuss Greece's latest proposal for a third bailout. It would last two years and amount to €29.1bn.
It said revenues are likely to be about £3.5bn with trading profit of about £90m. On the currency markets, the euro fell 0.2% against the dollar to $1.1118. The pound fell 0.2% against the euro to €1.4074 and was 0.4% lower against the dollar at $1.5652.