Markets now see ‘glass half-empty’

On the second day following the Greek debt agreement, markets posted further modest gains, but continued to worry whether the €86bn bailout accord will stick in the coming weeks, analysts warned yesterday.

The yields on German and Irish bonds eased slightly, European stock indices ended slightly ahead, and, reflecting continuing uncertainty about the Greek deal, sterling gained against the euro.

“European stocks rose 1% across the board, but not by 2% or 3% in any euphoric way,” said Gerard Moore, equities analyst at Investec Ireland.