However, analysts warned that with expectations of a rebound now fully priced in, share prices are unlikely to rise further unless the market sees unambiguous evidence that a recovery is indeed under way.

BBC: US shares hit 15-month high

But it went on to say that "there are a number of unambiguous circumstantial pieces of evidence gathered in the course of the investigation, indicating that Commissioner Dalli was aware of the activities of the Maltese entrepreneur and of the fact that this person was using the commissioner's name and position to gain financial advantages".

BBC: John Dalli row: EU's Barroso denies ousting colleague