US shares have risen strongly in early trading as investors welcome fresh efforts by global leaders to end the recent financial turmoil.
US shares have risen strongly in early trading as investors welcome fresh efforts by global leaders to end the recent financial turmoil.
Echoing gains in Europe and Asia, Wall Street's main Dow Jones index rose 395 points, or 4.7%, shortly after opening.
Echoing gains in Europe and Asia, Wall Street's main Dow Jones index rose 395 points, or 4.7%, shortly after opening.
The gains came after the Group of Seven (G7) richest nations agreed a five-point action plan at the weekend.
The gains came after the Group of Seven (G7) richest nations agreed a five-point action plan at the weekend.
European shares were further lifted by fresh moves by governments to inject more public funds into banks.
European shares were further lifted by fresh moves by governments to inject more public funds into banks.
Nicolas Sarkozy announces the rescue plan
Germany has approved a package worth up to 500bn euros (£393bn; $683bn), France will spend about 350bn euros, and Spain has set aside 100bn euros.
Germany has approved a package worth up to 500bn euros (£393bn; $683bn), France will spend about 350bn euros, and Spain has set aside 100bn euros.
The bulk of this money will be used to guarantee lending between banks - part of a plan agreed to this weekend by the 15 nations that use the euro.
The bulk of this money will be used to guarantee lending between banks - part of a plan agreed to this weekend by the 15 nations that use the euro.
The cash will also be used to take stakes in ailing banks.
The cash will also be used to take stakes in ailing banks, and other European nations are now due to follow suit following agreement on Sunday.
'Momentous day'
Separately, the major global central banks also said they would offer financial institutions an unlimited amount of short-term dollar loans to help stem the crisis.
Separately, the major global central banks also said they would offer financial institutions an unlimited amount of short-term dollar loans to help stem the crisis.
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.
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.
"Today marks another momentous day in both UK and global financial history," said Keith Bowman, equity analyst at Hargreaves Lansdown Stockbrokers.
"Today marks another momentous day in both UK and global financial history," said Keith Bowman, equity analyst at Hargreaves Lansdown Stockbrokers.
"The hope in the markets is that political leaders have finally 'grasped the nettle', with substantial and coherent rescue plans now being formulated and rolled into place."
"The hope in the markets is that political leaders have finally 'grasped the nettle', with substantial and coherent rescue plans now being formulated and rolled into place."
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