Stock markets rise on expectation of eurozone debt plan

Stock markets have continued to rise, fuelled by expectations that leaders in the eurozone are preparing action to ease the bloc's debt crisis.The main markets in London, Frankfurt and Paris opened about 1.5% higher, following a 5.6% rise in Hong Kong.Reports that European banks will be recapitalised, and also that they will face more thorough stress tests, helped restore some confidence to markets.More details could come later at a European Central Bank press conference.ECB president Jean-Claude Trichet will lead the media briefing, which will come after the bank announces its decision on European interest rates.Later on Thursday, German Chancellor Angela Merkel is due to hold talks with Mr Trichet, and representatives from the International Monetary Fund.Expectations that action to bolster banks and boost European bailout funds began on Monday, when Olli Rehn, European commissioner for economic affairs, said there was "an increasingly shared view that we need a concerted, co-ordinated approach".In an interview with the Financial Times he said there was "a sense of urgency among ministers and we need to move on".