A strong start to the markets has seen the FTSE trading at 5818, up 31 points by 10am (London time).
It was a case of third time lucky for the IMF and ECB as late into the night they were finally able to thrash out an agreement over Greek debt. A complicated mix of compromise and face-saving manoeuvres has seen all parties agree on an extension of the time to pay, a suspension of the interest payments and €34.4 billion of bailout funds paid out in trenches. Meanwhile, yesterday's news that the next head of the Bank of England is Canadian Mark Carney has seen stocks of Céline Dion, Bryan Adams and Mountie jokes rise dramatically.
On the equity front Severn Trent posted a disappointing first-half pre-tax profit of £120.9 million, despite the prolonged wet conditions. Mitchells & Butlers' full-year pre-tax profit of £166 million was broadly in line with expectations.
Looking ahead to the US open it will be interesting to see what Fed chairmen Ben Bernanke has to say at 1.30pm (London time), but at the moment the Dow is called to open up three points.