Overseas Trading: European Markets Rally as Greek Banks Open for Business

The Shanghai Composite muscled higher after regulators announced new guidelines for Internet finance

by Alex Eppstein

Published on Jul 20, 2015 at 8:15 AM
Updated on Jul 20, 2015 at 8:15 AM

Stocks in Asia settled mixed amid an ongoing retreat in commodity prices. China's Shanghai Composite outperformed its peers, adding 0.9% after the People's Bank of China posted new guidelines for qualified lenders to enter the Internet finance arena. Meanwhile, Hong Kong's Hang Seng finished 0.04% lower and South Korea's Kospi gave back 0.2%. The Japanese Nikkei was shuttered for holiday.

European bourses have kicked off the week on a positive footing, as Greek banks have re-opened -- and reports are indicating Athens spent its bridge loan to meet existing debt obligations. At midday, the German DAX is up 1%, the French CAC 40 has added 0.8%, and London's FTSE 100 is 0.2% higher.

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