The euro was also given a fillip by Spain's budget, and rose against the dollar and the yen after tumbling to two-week lows earlier. It reached $1.2919.

Spain set out a detailed timetable for economic reforms and unveiled a tough 2013 budget, no doubt in an attempt to pre-empt the terms of any international bailout.

With that, we're signing off. We'll be back tomorrow with more news and commentary. Thankyou for all your great comments and good night.