The FTSE 100 broke through 6,000 on Monday to close at its highest level since early May, buoyed by improved market sentiment and bid rumours.
The UK’s benchmark index rose for the seventh day running, to close up 28 points at 6017.5. Trading volumes were low because the US was on holiday for Independence Day.
Jeremy Batstone-Carr at Charles Stanley said:
The passage of the austerity measures through the Greek parliament helped lift sentiment. “Serious questions remain about Greece’s ability to avoid default but it feels as if the imminent crisis has been averted.”
Traders pushed shares higher after Nomura and Deutsche Bank (Xetra: 514000 – news) said things were looking up for European equities. Deutsche said a lower oil price should help the global economy recover in the fourth quarter.