2.45pm Markets Update

Updated: Tuesday 30 June 2015 14.50

Wall Street stocks opened higher today, recovering some of the losses from yesterday's rout despite Greece edging closer to a debt default.

US stocks had fallen sharply yesterday in a global equity sell-off, with the S&P 500 suffering its sharpest drop in more than 14 months.

Five minutes into trade, the Dow Jones was at 17,699, up 103 points (0.58%), while the broad-based S&P 500 rose 15 points (0.72%) to 2,072.52 and the tech-rich Nasdaq Composite Index jumped 37 points (0.75%) to 4,996.

European stocks had recovered the worst of their losses this afternoon but remained on edge as Greece looked set to default on a debt repayment to the IMF and plunge deeper into financial crisis.

London's FTSE was down 27 points (0.4%) to stand at 6,594 by 2.45pm, while the Paris CAC gained 13 points (0.27%) to 4,883 and the Frankfurt DAX added 28 points (0.25%) to trade at 11,111.

Dublin's ISEQ index had lost 16 points (0.26%) to stand at 6,193 in mid-afternoon trade. Shares in Fyffes fell 3.4% to €1.40, while Ryanair was down 1.7% to €11.78 and Aer Lingus dipped 0.8% to €2.39. Paddy Power shares lost 0.8% to €77.35 while Aryzta had dropped 1.9% to trade at €44.33.

Earlier in Asian trade, Tokyo's Nikkei index closed 126 points (0.6%) higher at 20,236 rebounding after sharp losses in the previous session as investors brace for an expected Greek default later in the day. The Hang Seng index in Hong Kong also rose 283 points (1.1%) to finish at 26,250.