European stock markets made gains in volatile Tuesday trading with investors continuing to worry over the strength of financial institutions.
World stock markets made gains in volatile Tuesday trading with investors continuing to worry over the strength of financial institutions.
London's FTSE 100 moved ahead by early afternoon despite banking shares taking a hammering. Royal Bank of Scotland - which lost 40% at one point - fell 25%.
London's FTSE 100 index rallied despite banking shares taking a hammering. Royal Bank of Scotland - which lost 40% at one point - was down 25%.
Having shed 7.8% in the previous session, the key London index was up 1.9%. France's Cac-40 index added 1.9%.
Having shed 7.8% in the previous session, the key London index was up 2.9%. France's Cac 40 index added 3%.
Asian markets were mixed as traders reacted to the turmoil.
In early trading in the US, the Dow Jones index was up 0.6%.
Earlier, Asian markets were mixed as traders reacted to the turmoil.
Japan's Nikkei 225 index sank more than 5% - below the 10,000-point barrier - before recovering slightly to close down 3%.
Japan's Nikkei 225 index sank more than 5% - below the 10,000-point barrier - before recovering slightly to close down 3%.
However Australia's financial markets rallied after the country's central bank cut its official interest rate from 7% to 6%.
However, Australia's financial markets rallied after the country's central bank cut its official interest rate from 7% to 6%.
'Recession arrived'
'Recession arrived'
A shortage of capital is a big issue for banks...but the really big issue is the breakdown of wholesale markets Robert PestonBBC business editor Read Robert's blog in full
A shortage of capital is a big issue for banks...but the really big issue is the breakdown of wholesale markets Robert PestonBBC business editor Read Robert's blog in full
The market moves came amid developments including:
The US Federal Reserve announced plans to buy massive amounts of short-term debt from companies in an effort to unfreeze the money markets
The
Icelandic government took control of the country's second biggest bank, Landsbanki, which owns UK internet bank IcesaveIceland rescues Landsbanki
European Union finance ministers agreed to increase the guarantee for customers' bank savings accounts to at least 50,000 eurosEU moves to reassure bank savers
Taiwan became the latest country to say that it would fully protect depositors' savings should a bank fail
The BBC's business editor Robert Peston learned that a trio of leading UK banks had met with Chancellor Alistair Darling and told him they were disappointed he had not presented a fully elaborated banking rescue planRead Robert's blog
Australia's central bank trimmed interest rates from 7% to 6% - despite inflation being well ahead of government targets Australia slashes interest rates
Moscow's two main stock exchanges opened several hours late on Tuesday having had suffered heavy losses on Monday.Falls halt Russian market trading
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The market moves came amid developments including:
The US Federal Reserve announced plans to buy massive amounts of short-term debt from companies in an effort to unfreeze the money markets
The
Icelandic government took control of the country's second biggest bank, Landsbanki, which owns UK internet bank IcesaveIceland rescues Landsbanki
European
Union finance ministers agreed to increase the guarantee for customers' bank savings accounts to at least 50,000 eurosEU moves to reassure bank savers
Taiwan
became the latest country to say that it would fully protect depositors' savings should a bank fail
BBC's business editor Robert Peston learned that a trio of leading UK banks had met with Chancellor Alistair Darling and told him they were disappointed he had not presented a fully elaborated banking rescue planRead Robert's blog
Australia's
central bank trimmed interest rates from 7% to 6% - despite inflation being well ahead of government targets Australia slashes interest rates
Moscow's
two main stock exchanges opened several hours late on Tuesday having had suffered heavy losses on Monday.Falls halt Russian market trading
