Cyprus bailout deal boosts markets

European markets were up by as much as 1% after a bailout deal for Cyprus prevented the country from crashing out of the eurozone.

The last-ditch agreement, which will see Cyprus get 10 billion euro (£8.5 billion) to shore up its banking system, triggered gains for Asian markets and resulted in major progress for the Dax in Frankfurt and the Cac 40 in Paris.%VIRTUAL-SkimlinksPromo%