LONDON (TheDeal) -- In what might seem a triumph of hope over experience, markets rose this morning on hopes that, this time, talks to resolve the Greek debt crisis will be successful. The European Central Bank has once again raised the limit on the emergency loans available to Greek banks to cover outflows for the next 24 hours, while even Greek bond yields have been falling. The Athens Stock Exchange General Index is up 7.21% at 736.90 and Greece's largest lender, National Bank of Greece (NBG) is up 15.91% at €1.02.
In London, the FTSE 100 index is up 1.15% at 6,787.61, while in Paris, the CAC 40 is up 2.81% at 4,950.87. In Frankfurt, the DAX is up 2.96% at 11,367.16.
In Paris, shares in French infrastructure group Bouygues (BOUYF) are up over 13.8% at €38.28 a share after an offer from billionaire Patrick Drahi's Altice (ATCEY) for Bouygues Telecom, France's third-largest mobile phone service provider. The offer is being made through Altice's cable and cellphone operator Numericable-SFR (NUMCF) and is reportedly valued at about €10 billion ($11.4 billion).
Numericable is up 7.05% at €55.05. while Altice, which trades in Amsterdam, was up 21.4% at €139.55. However, while cellphone company investors welcome moves for consolidation in the French market, the French government and European Union antitrust regulators are expected to take a less relaxed view.