Tokyo: Shares open 1.32% higher after Greece deal

[TOKYO] Tokyo stocks opened 1.32 per cent higher on Tuesday after Greece reached a long-awaited new bailout deal, while the euro slipped further against the dollar.

The Nikkei 225 index at the Tokyo Stock Exchange rose 265.56 points, to 20,355.33 in the first few minutes of trade.

The rally came after eurozone leaders struck a deal Monday on a bailout to prevent Greece crashing out of the eurozone while forcing Athens to push through tough reforms within days.

On forex markets, the euro stood at US$1.0986 compared with US$1.1004 in New York late Monday.

The euro had jumped to nearly US$1.12 in the moments after the deal was announced but quickly fell back to the US$1.10 level.

The unit eased to 135.74 yen against 135.84 yen in US trade, while the dollar rose to 123.59 yen from 123.45 yen.

European and US stocks powered higher over the new bailout deal, with Frankfurt's DAX 30 climbing 1.49 per cent, London's FTSE 100 index up 0.97 per cent and the Dow Jones Industrial Average surging 1.22 per cent.

AFP