herald

Tuesday 21 August 2018

Boost for markets

European shares rallied after Greece's parliament passed a crucial austerity plan demanded by international lenders.

The move boosted the euro and sparked a broad rebound in risky assets.

Worries that the US and Chinese economies are quickly slowing, on top of the fears that Greece might be headed for a messy debt restructuring, had prompted a broad pull-back in equities and commodities while boosting safe-haven bonds.

The euro pushed higher for a fourth straight day after the Greek parliament passed the new measure by a margin of 155 to 138.

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