It was a short-lived relief rally for European shares and the euro following news of a bailout deal for Cyprus. The immediate threat of financial meltdown may have been averted but it was quickly replaced by worries about an economic slowdown and political uncertainties elsewhere. Gains were erased on the FTSEurofirst 300 and the euro zone banking share index. But Francois Chaulet from Paris-based Montsegur Finance said the initial rally suggested confidence over Cyprus.
Download the TV Guide app for iPhone, iPad and Android!