Greece raises bonds rate

Greece raised the amount it sought to refinance maturing short-term debt on Wednesday, but at the highest yield for 11 months. Analysts say it will test Athens’ ability to raise funds amid a cash crunch.

Greece, shut out of debt markets and with aid from its official creditors frozen is scrambling to meet this month’s funding needs which include maturing treasury bills and a 1.5 billion euro loan payment to the International Monetary Fund.

The country’s debt agency PDMA sold 1.138 billion euros of six-month treasury bills on Wednesday but at a higher cost than in a similar auction last month.

The Treasury bills were priced to yield 2.97 percent up from 2.75 percent in the February sale and the highest since an issue in April last year.

Greece raises bonds rate | euronews, economy

EU Economy: Europe shares rally on ECB stimulus hopes

European shares traded sharply higher on Tuesday as buying was fueled by corporate earnings and reports that the European Central Bank (ECB) would provide extra liquidity in the near future.

Banks and shares in peripheral countries led the rally, offering investors some much-needed relief as consistent selling from last week bled into yesterday's close.

Investors were also buoyed by reports from Reuters - citing sources - which said that the ECB could begin buying corporate bonds in the secondary debt markets from as soon as this December. Both the Spanish and Italian markets rallied to close more than 2 percent higher.

Read More: Europe shares rally on ECB stimulus hopes