FTSE rises on Greece austerity vote

The FTSE 100 has risen in early trades on the back of the decision by Greek MP’s to pass a new austerity package.

At 10.20, the blue-chip index rose by 0.9 per cent to 5904.53. Markets across Europe also rose with the French Cac 40 and the German Dax up 0.4 and 0.6 per cent respectively.

Greece needs to pass through the new reforms required by the European Union and the International Monetary Fund in return for a second £110bn bail-out. The new package includes £2.8bn of cuts.