Investors have pushed stock markets across Asia and Europe higher following an agreement by eurozone countries to provide up to $125 billion to rescue Spain's ailing banks.

Markets in Britain, Germany and France were all up about 2 percent in early trading Monday, while shares in Spain — led by financial stocks — surged nearly 4 percent.

Japan's Nikkei index closed up 2 percent, and Hong Kong's Hang Seng gained 2.4 percent.

Analysts said the bailout deal reached Saturday is an important step in shoring up Spain's banks, but cautioned it is not a definitive solution for the country's economy as a whole.

Investor relief could be shortlived, as voters in Greece prepare for parliamentary elections Sunday, and the possibility of a new government prepared to leave the euro currency rather than face austerity measures demanded by other nations.