Spain's debt costs break 7% level

Spain's borrowing costs have broken through the level where its debt is seen as unsustainable, despite the victory by pro-bailout parties in the Greek elections.

Financial data provider FactSet said the interest rate on Spain's 10-year bonds - an indicator of market confidence in how well a country can pay down its debt - stood at 7.02%. That marked a rise of nearly 15 points for the day, in which the yield had initially fallen. Stocks were down 1.5 points.