Business Bites: Markets react to Greek elections

18 June 2012 Last updated at 13:22 ET Help

Share markets around the world have been reacting to the news that the centre-right New Democracy party - which is in favour of the EU bailout plan - won the pivotal election in Greece over the weekend.

Initially shares in Asia rallied and the euro rose against most major currencies.

But European stock markets have since given up some of their early gains, with Spanish bond yields jumping back above 7%.

Meanwhile, leaders are gathering in Los Cabos in Mexico for the G20 summit, where the eurozone crisis will be high on the agenda.

The BBC's Aaron Heslehurst discusses the key financial stories of the day.

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