Eurozone Stock Markets Rise After Greek Debt-Deal Progress

Mainland European stock markets staged a modest rebound on Monday, as China’s currency stabilized and the euro zone edged closer to a resolution to the Greek debt crisis. In Paris Alstom rose sharply after Reuters reported that General Electric (GE) would soon get European Commission approval for its €12.4 billion ($13.8 billion) asset purchase from the French company. But in London Bovis Homes tumbled as investors bet that higher interests could soon end the developer’s stellar run. Asian indices were mixed, with Tokyo markets buoyed by second-quarter GDP figures that were better than expected – but which kept hopes of new monetary stimuli alive. In Seoul Samsung Electronics fell to a 10-month low after investors decided two new smartphone models won’t cut it as competitors to Apple’s (AAPL) ubiquitous iPhone.