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| Europe shares flat after US vote | |
| (about 1 hour later) | |
| European stocks were relatively flat in early trading following the US Senate's decision overnight to back the revised American financial rescue plan. | |
| While the UK's main FTSE 100 index was up three points to 4,963, Germany's Dax was down seven points to 5,800. | |
| Asian stocks had earlier fallen steeply, with Japan's Nikkei down 1.9%, and Hong Kong's Hang Seng losing 1.3%. | |
| Analysts said concerns remained as to whether the House of Representatives would now back the revised US plan. | |
| It was the House - the other half of the US Senate - that rejected the first deal on Monday. | |
| The House is now due to vote on the revised proposal on Friday. | |
| Worries persist | Worries persist |
| Australian shares also declined after the Senate vote - losing 0.9% on Thursday. | Australian shares also declined after the Senate vote - losing 0.9% on Thursday. |
| There's still a lot of distrust of this bill in the House, so it's hard to know what will happen there Katsuhiko Kodama, Toyo Securities | There's still a lot of distrust of this bill in the House, so it's hard to know what will happen there Katsuhiko Kodama, Toyo Securities |
| Analysts there said they expected global investor scepticism to continue until both the House of Representatives also backs the rescue plan - and it is seen to work. | |
| "There's still a lot of distrust of this bill in the House, so it's hard to know what will happen there," said analyst Katsuhiko Kodama, senior strategist at Toyo Securities. | "There's still a lot of distrust of this bill in the House, so it's hard to know what will happen there," said analyst Katsuhiko Kodama, senior strategist at Toyo Securities. |
| "If you look at recent indicators for the US and Japan, the economy is clearly bad. | "If you look at recent indicators for the US and Japan, the economy is clearly bad. |
| "You can't expect a rebound just on the bill passing the Senate." | "You can't expect a rebound just on the bill passing the Senate." |
| 'Different world' | 'Different world' |
| Fellow analyst Masamichi Adachi said global financial markets were unlikely to stabilise even if the House does pass the bill on Friday. | Fellow analyst Masamichi Adachi said global financial markets were unlikely to stabilise even if the House does pass the bill on Friday. |
| "It's a completely different world now," he said. | "It's a completely different world now," he said. |
| "All the things US authorities are doing now are simply aimed at preventing a global meltdown. | "All the things US authorities are doing now are simply aimed at preventing a global meltdown. |
| "They might trigger a short rally in markets but won't offer a fundamental solution." | "They might trigger a short rally in markets but won't offer a fundamental solution." |