European stock markets are responding positively to news from Brussels regarding a new Greek deal.

Both the Frankfurt and Paris exchanges up over 1 percent this morning; the FTSE100 index in London is 0.6 percent higher while the ISEQ index is up 55 points in early trading at 6334.

The euro may also make some gains through the day: its currently trading at just under 1.12 against the dollar and at 72p sterling

Further gains in China overnight, the key Shanghai Composite closed 3.6 percent higher continuing Friday’s rebound gains. The market was boosted 2 percent increase in the value of Chinese exports last month following three months of lower overseas sales.

Strong gains in the price of larger State-owned enterprises such as PetroChina also drove Shanghai higher but the price of up to 900 smaller companies, or one third of the overall market fell by the maximum 10 percent permitted by regulators - so, behind the positive headline figures, volatility continues there.