Belgium - European and US equity-index futures jumped while German bunds retreated after Belgium’s Prime Minister said an agreement had been reached at a summit on Greece’s crisis.
Oil fell as Iran and world powers closed in on a nuclear deal, while Chinese stocks led Asian shares higher.
Euro Stoxx 50 Index futures climbed 1 percent by 7:53 a.m. in London, while contracts on the Standard & Poor’s 500 Index futures climbed 0.2 percent.
The yield on 10-year bunds rose four basis points and Italian notes reversed earlier losses. The Shanghai Composite Index rose 2.4 percent and a gauge of mainland companies in Hong Kong climbed 0.6 percent.
Nickel declined 2.3 percent, while U.S. crude retreated 2.4 percent.
Belgium’s Prime Minister Charles Michel said there had been an “agreement” in Greece’s debt talks.
China reported a smaller- than-estimated drop in June imports, while exports also came in ahead of projections. A deal that will see sanctions against Iran lifted could be announced as soon as Monday.
“A deal on Greece will have limited impact on the global economy because the overall GDP of Greece isn’t that big, but it may increase volatility,” Francis Cheung, a senior strategist at CLSA, said at a briefing in Hong Kong. In China “we see value emerging but there is still significant risk.”
Bloomberg