This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7620318.stm
The article has changed 16 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Markets stage cautious recovery | Markets stage cautious recovery |
(40 minutes later) | |
Global markets have staged a tentative recovery in response to the US government rescue of insurance giant AIG, but investors remain nervous. | Global markets have staged a tentative recovery in response to the US government rescue of insurance giant AIG, but investors remain nervous. |
European markets opened higher, with the FTSE 100 index of leading shares rising 1% to 5,086.4 points. | European markets opened higher, with the FTSE 100 index of leading shares rising 1% to 5,086.4 points. |
Banking shares were the chief gainers, however UK lender HBOS continued to suffer after a 22% slide on Tuesday. | |
Stocks in Tokyo, Taipei, and Seoul all rose, although prices in Hong Kong and Australia lost ground. | |
The dollar also rose against major currencies. | The dollar also rose against major currencies. |
However, investors remain concerned that financial markets will remain unstable after the dramatic events of the past few days. | |
AIG's bail-out follows the collapse of US investment giant Lehman Brothers, which caused share prices to plummet across the world's financial markets. | AIG's bail-out follows the collapse of US investment giant Lehman Brothers, which caused share prices to plummet across the world's financial markets. |
Another investment bank, Merrill Lynch, has been sold off to Bank of America. | Another investment bank, Merrill Lynch, has been sold off to Bank of America. |
The French stock market echoed London's gains, with Paris' Cac 40 index up 1.6%. | The French stock market echoed London's gains, with Paris' Cac 40 index up 1.6%. |
Banking shares led the rally. Barclays climbed 7.4%, Lloyds rose 5% and RBS gained 4.8%. | |
However HBOS, which owns Halifax and Bank of Scotland, continued to suffer. It opened up 8% at 196.9 pence but later reversed gains to fall 8% to 167p. | |
In Europe, Swiss bank UBS was up 11% and French lender Societe Generale rose 5.7 | |
Japan's Nikkei 225 index ended up 1.2% at 11,749.79, after hitting a three-year low on Tuesday. The index had earlier rose as much as 2.3%. | Japan's Nikkei 225 index ended up 1.2% at 11,749.79, after hitting a three-year low on Tuesday. The index had earlier rose as much as 2.3%. |
Hong Kong's Hang Seng index was down 1.85% at 17,691.2 points after earlier rising as high 18,699.18. | Hong Kong's Hang Seng index was down 1.85% at 17,691.2 points after earlier rising as high 18,699.18. |