Possibility of solution to Greece's debt crisis boosts FTSE 100 index

As it becomes more plausible that a solution to the debt crisis in Greece will be resolved, stock market traders are set to see the FTSE 100 index open up to 0.8 per cent higher today than Friday's closing level.

This is according to financial bookmakers cited by Reuters, who suggested that the plans unveiled to boost the eurozone by leaders in France and Germany contributed to the increase in confidence among investors.

Cameron Peacock, market analyst at IG Markets, told the news provider: "The Europeans would now seem to be singing from the same hymn book and while some form of solution to the crisis is still a ways off, it now at least seems plausible."

According to German chancellor Angela Merkel and France's president Nicolas Sarkozy, their goal is to develop a sustainable solution to the problems in Greece by the end of the month.

Last week, shares in Europe received a boost when Ms Merkel asserted that she would support plans to recapitalise the banks in the eurozone.

Posted by Greg Secker