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Europe shares up despite Greece woes | |
(about 4 hours later) | |
(Close): Shares in London and other European markets rose despite fears over whether Greece's parliament would back the latest eurozone bailout deal. | |
By the close, the FTSE 100 was up 0.23% or 15.8 points at 6,753.75. | |
France's Cac 40 gained 0.69% to 5,032.47 while Germany's Dax rose 0.28% to 11,516.90. | |
Bank of England governor Mark Carney said on Tuesday that the proposed eurozone deal would require "Herculean efforts from all sides". | Bank of England governor Mark Carney said on Tuesday that the proposed eurozone deal would require "Herculean efforts from all sides". |
Speaking to the UK Parliament's Treasury Committee, he also said that the point at which UK interest rates may begin to rise was "moving closer". | Speaking to the UK Parliament's Treasury Committee, he also said that the point at which UK interest rates may begin to rise was "moving closer". |
His comments boosted the value of sterling. The pound rose 0.65% against the dollar to $1.5589 and was 0.58% higher against the euro at €1.4154. | |
However, the prospect of higher interest rates hit shares in housebuilders. Taylor Wimpey fell 1.5% and Barratt Developments dropped 1.1%. | |
Top gainer on the FTSE 100 was Sky, which rose 4.1% after Deutsche Bank upgraded its rating on the stock to "buy". | |
Outside the FTSE 100, shares in newspaper publisher Johnston Press plunged by20% after it said full-year profits would be below expectations following a fall in revenues. |