FTSE jumps 4 %
Published Date:
14 October 2008
London's leading share index jumped more than 4% 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 £37 billion rescue plan clawing back some hefty losses seen yesterday.
Royal Bank of Scotland, which is in line to receive £20 billion, was up 12%, while merger partners HBOS and Lloyds TSB were up 11% and 7% 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%, its biggest one day rise, while New York's Dow Jones Industrial Average soared 11%, the index's biggest daily jump since the Great Depression.
The full article contains 138 words and appears in The Scotsman newspaper.
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Last Updated:
14 October 2008 1:22 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Economic indicators
