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However, the agency kept it on a “negative outlook”.

Also, a senior Spanish official has said that Madrid was considering a request for a line of credit from Europe’s European Stability Mechanism (ESM) rescue fund, the Wall Street Journal reported.

Article continues below Moody’s gave debt-addled Spain some much-needed room on Tuesday when it held the country’s rating at Baa3, one notch above “junk”, citing the European Central Bank’s willingness to buy government bonds to stabilise its borrowing rate.

But the main focus this week is on China, where third quarter growth figures are due to be released on Thursday, with investors hoping for improved figures and the beginning of a pickup after a slowdown for most of the year. New York’s main contract, light sweet crude for delivery in November, rose 21 cents to .30 in the afternoon while Brent North Sea crude for December delivery shed six cents to 3.94.Image Credit: Reuters An electronic board displays market indices from around the world outside a brokerage in Tokyo.Tokyo jumped 1.21 per cent, or 105.24 points, to 8,806.55 on Wednesday.The comments soothed investors fears over Spain as Prime Minister Mariano Rajoy has so far refused to ask for help, despite the parlous state of the economy, saying he wanted to study the terms of a rescue.“The latest headlines from Madrid imply that a formal request for aid is inevitable,” said Ashraf Laidi, chief global strategist at City Index.

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