The Stoxx Europe 600 was 1.3% higher midmorning, putting the index on course for a seventh straight day of gains.

The weeklong rebound in European markets has come as eurozone policy makers hammered out a new rescue package for Greece on Monday that investors hope will avert a messy Greek exit from the currency bloc.

“A lot of people have been waiting to see what would happen in Greece. We are having a bit of a knee-jerk rally,” said Julian Chillingworth, chief investment officer at Rathbone Brothers PLC, which manages £28.9 billion ($45.2 billion) of funds.

“But Greece isn’t going to disappear completely from investors’ view,” he said.

In the U.S., stock futures indicated a 0.4% opening gain for the S&P 500. Changes in futures aren’t necessarily reflected in market moves after the opening bell.

The package of measures passed in the vote early on Thursday was a prerequisite for as much as €86 billion ($94 billion) in bailout loans over the next three years from the eurozone and International Monetary Fund. Still, a rebellion within the ruling Syriza party will test whether Prime Minister Alexis Tsipras can hold his government together as he seeks to complete the deal.

Greece’s stock market will remain closed Thursday.

Reaction in bond markets was more muted. Spanish and Italian 10-year yields briefly dipped below 2%, their lowest in more than six weeks, before rising again to trade flat on the day. Both countries’ bonds, which are seen as vulnerable to spillover from the Greek crisis, have come under pressure in recent weeks.

The focus will remain on Greece at Thursday’s European Central Bank policy meeting, with some analysts expecting the ECB to extend its emergency loans to the Greek banking sector.

In currency markets, the euro was 0.4% lower against the dollar at $1.0906, having touched a six-week low in early trade.

Signs of a resolution to the Greek crisis have encouraged investors to refocus on bearish euro bets, given rock-bottom interest rates in the eurozone and the prospect of a U.S. rate rise later in the year, said Michael Sneyd, a currency strategist at BNP Paribas. The bank expects the euro to fall to $1.02 by the end of the year.

In commodities, Brent crude oil climbed 0.9% to $57.64 a barrel. Gold was down 0.3% at $1,144 a troy ounce.

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