European stocks seen rising on Cyprus deal

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Financial spreadbetters expect Europe's main stock indexes to rally on Monday after Cyprus reached a deal with international lenders for a 10 bln euro bailout and a further 5.8 bln bail-in programme to recapitalise its banks.

Spreadbetters expect London's FTSE 100 to open around 39 points higher, or up 0.6%, Frankfurt's DAX to open 70 points higher, or up 0.9%, and Paris' CAC 40 to open 40 points higher, or up 1.1%.

As part of the bailout plan, Cyprus will shut down its second largest bank, Popular Laiki, and inflict heavy losses on uninsured depositors with savings of more than 100,000 euros. Largest lender Bank of Cyprus will absorb the "good bank" operations of Laiki.

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