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/7666608.stm

The article has changed 23 times. There is an RSS feed of changes available.

Version 1 Version 2
Markets rally after crisis talks Markets surge after crisis talks
(about 1 hour later)
European and Asian markets have rallied in response to efforts by world leaders to stem the recent financial turmoil. European and Asian markets have rallied in response to efforts by world leaders to end the recent financial turmoil.
London's FTSE 100 index and France's Cac 40 index both jumped more than 5% - tracking earlier gains on Asian markets. Bank shares led the advance. London's FTSE 100, France's Cac 40 and Germany's Dax index all jumped more than 6%, tracking earlier gains on Asian markets.
Major central banks also made extra funds available and said they would take "whatever measures necessary" to end the crisis. Major central banks said they would offer financial institutions an unlimited amount of short-term dollar loans to help stem the crisis.
EU leaders said on Sunday no big bank would be be allowed to fail.EU leaders said on Sunday no big bank would be be allowed to fail.
Banking shares were among the biggest gainers on London's FTSE 100 index, with Royal Bank of Scotland climbing 4.8%, Barclays up 16.75% and HSBC surging 56%. UK shares got a boost after the government said it would inject up to £37bn of taxpayer cash into Royal Bank of Scotland (RBS), Lloyds TSB and HBOS.
The FTSE 100 index was up 268.56 points, or 6.83%, at 4,200.62 points.
LifelinesLifelines
Governments around the world had been racing to throw financial institutions a lifeline before the major markets re-opened.Governments around the world had been racing to throw financial institutions a lifeline before the major markets re-opened.
At the weekend, finance ministers from the main industrialised nations - the G7 - approved a five-point plan to unfreeze credit markets, and a number of countries announced individual rescue packages.At the weekend, finance ministers from the main industrialised nations - the G7 - approved a five-point plan to unfreeze credit markets, and a number of countries announced individual rescue packages.
Australia's benchmark index ended 5.6% higher and South Korea's main Kospi index finished up 3.8%.
By 0645 GMT, Hong Kong shares were up 3.2% and Shanghai's benchmark index moved into positive territory after falling earlier.
But Taiwan stocks fell 2.15%.
Japan's stock market was closed for a public holiday.
Investors worried
Australia's Prime Minister Kevin Rudd said his government would guarantee all bank deposits, however large, for the next three years.
Correspondents say that type of move raised confidence as markets opened, and Australia's central bank on Monday pumped $2bn into the banking system to facilitate improve lending between banks.
The BBC's Quentin Sommerville in Beijing says Asian investors remain worried that even if Europe and the US resolve their banking crises, their underlying economies are slowing down, which is bad news for Asian exports.
UK cash injection
The European plan was confirmed after an emergency Paris summit of the 15 eurozone leaders on Sunday.The European plan was confirmed after an emergency Paris summit of the 15 eurozone leaders on Sunday.
Under the eurozone plan, members pledged to guarantee loans between banks until the end of 2009, and said they would put money into them by buying preference shares.Under the eurozone plan, members pledged to guarantee loans between banks until the end of 2009, and said they would put money into them by buying preference shares.
Nicolas Sarkozy announces the rescue planNicolas Sarkozy announces the rescue plan
French President Nicolas Sarkozy - whose country currently holds the rotating presidency of the EU - said the group was taking unprecedented steps.French President Nicolas Sarkozy - whose country currently holds the rotating presidency of the EU - said the group was taking unprecedented steps.
The plan was similar to one announced by Britain last week, and although the UK is not a member of the eurozone club, British Prime Minister Gordon Brown attended parts of Sunday's talks.The plan was similar to one announced by Britain last week, and although the UK is not a member of the eurozone club, British Prime Minister Gordon Brown attended parts of Sunday's talks.
The UK government is to inject up to £37bn of new capital into Royal Bank of Scotland, Lloyds TSB and HBOS.
Royal Bank of Scotland (RBS) is to raise £20bn - with the government buying £5bn of preference shares and underwriting £15bn of ordinary shares.
Governments in Germany, France, Italy and elsewhere are due to present their individual plans later, within the agreed eurozone framework, said Mr Sarkozy.Governments in Germany, France, Italy and elsewhere are due to present their individual plans later, within the agreed eurozone framework, said Mr Sarkozy.
"The crisis has over the past few days entered into a phase that makes it intolerable to opt for procrastination and a go-it-alone approach," he said."The crisis has over the past few days entered into a phase that makes it intolerable to opt for procrastination and a go-it-alone approach," he said.
Mr Sarkozy said the plan addressed all aspects of the financial crisis, but he did not say how much it would cost.Mr Sarkozy said the plan addressed all aspects of the financial crisis, but he did not say how much it would cost.
Australia's Prime Minister Kevin Rudd said his government would guarantee all bank deposits, however large, for the next three years.
Correspondents say that type of move raised confidence as markets opened, and Australia's central bank on Monday pumped $2bn into the banking system to facilitate improve lending between banks.
Asian shares rally
Australia's benchmark index ended 5.6% higher and South Korea's main Kospi index finished up 3.8%.
Hong Kong shares ended up 9.7% and Shanghai's benchmark index rose 3.65% after falling earlier.
But Taiwan stocks fell 2.15%.
Japan's stock market was closed for a public holiday.