FTSE opens higher
Published Date:
07 October 2008
THE FTSE 100 Index today opened higher after yesterday's stock market panic wiped £93bn from the value of London's leading shares.
Traders said a late rally on Wall Street and a bigger-than-expected cut in Australian interest rates offered some respite for beleaguered investors.
In a dramatic session yesterday, the Footsie slumped 7.8 per cent - its largest one-day percentage decline since the aftermath of Black Monday in October 1987. It recovered around 2.6 per cent or 120 points of last night's 391.1 points fall when the London market reopened today.
The Dow Jones Industrial Average was down more than 800 points at one point last night, but recovered in the final 90 minutes of the session to finish down 370 points at 9,955.50 - still its first close below 10,000 since 2004.
The full article contains 142 words and appears in n/a newspaper.
-
Last Updated:
07 October 2008 8:57 AM
-
Source:
n/a
-
Location:
Yorkshire
