Global stock markets soar
Published Date:
14 October 2008
LONDON'S leading share index jumped more than 4 per cent today as markets continued to rally in the wake of efforts to shore up the global financial system.
The FTSE 100 Index was up 174.9 points to 4431.8 after trading began, with the banks taking part in the Government's £37bn rescue plan clawing back some hefty losses seen yesterday.
Royal Bank of Scotland, which is in line to receive £20bn, was up 12 per cent, while merger partners HBOS and Lloyds TSB were up 11 per cent and 7 per cent respectively.
Trading was boosted by surging global markets overnight as investors cheered co-ordinated efforts to stabilise the financial sector.
Japan's Nikkei 225 soared 14 per cent, its biggest one day rise, while New York's Dow Jones Industrial Average soared 11 per cent, the index's biggest daily jump since the Great Depression.
The full article contains 149 words and appears in n/a newspaper.
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Last Updated:
14 October 2008 8:29 AM
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Source:
n/a
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Location:
Yorkshire
