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/7668732.stm
The article has changed 21 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Shares gain as confidence returns | Shares gain as confidence returns |
| (20 minutes later) | |
| Stocks markets in Europe and Asia have forged higher, as investors bet that state action to strengthen the banking system will ease the credit crisis. | Stocks markets in Europe and Asia have forged higher, as investors bet that state action to strengthen the banking system will ease the credit crisis. |
| London's FTSE 100 index rose almost 4% in early trade, while Japan's Nikkei stock index posted a record 14% gain. | London's FTSE 100 index rose almost 4% in early trade, while Japan's Nikkei stock index posted a record 14% gain. |
| The US is set to unveil details of a plan to take stakes in banks, following steps by the UK and European leaders. | The US is set to unveil details of a plan to take stakes in banks, following steps by the UK and European leaders. |
| President George W Bush will make a statement about the bank plan shortly before US markets open later. | President George W Bush will make a statement about the bank plan shortly before US markets open later. |
| The FTSE 100 was up 3.93%, or 167.29 points, at 4,424.19 points. In France the Cac 40 was up 4.04%, or 142.53 points at 3,674.03. | The FTSE 100 was up 3.93%, or 167.29 points, at 4,424.19 points. In France the Cac 40 was up 4.04%, or 142.53 points at 3,674.03. |
| Bank shares led gains in London. | Bank shares led gains in London. |
| In Japan, the Nikkei 225 ended up 14.2% at 9,447.57 points - its biggest ever one-day gain as it caught up with gains elsewhere after a public holiday on Monday. | In Japan, the Nikkei 225 ended up 14.2% at 9,447.57 points - its biggest ever one-day gain as it caught up with gains elsewhere after a public holiday on Monday. |
| Fresh moves | Fresh moves |
| The gains came after the US Dow Jones index jumped 11% on Monday as investors welcomed fresh moves to deal with the worldwide financial crisis. | The gains came after the US Dow Jones index jumped 11% on Monday as investors welcomed fresh moves to deal with the worldwide financial crisis. |
| In Hong Kong, the Hang Seng index was up 715.67 points, or 4.4%, at 17,027.83 by the mid-session break. South Korea's index finished the day 6.14% higher. | In Hong Kong, the Hang Seng index was up 715.67 points, or 4.4%, at 17,027.83 by the mid-session break. South Korea's index finished the day 6.14% higher. |
| Australian PM Kevin Rudd announces a A$10.4bn economic stimulus package | Australian PM Kevin Rudd announces a A$10.4bn economic stimulus package |
| Australia's main share index ended the day up 3.7% after Australian Prime Minister Kevin Rudd announced a 10.4bn Australian dollar ($7.3bn) economic stimulus package. | Australia's main share index ended the day up 3.7% after Australian Prime Minister Kevin Rudd announced a 10.4bn Australian dollar ($7.3bn) economic stimulus package. |
| It will allow for one-off payments to the country's low-wage earners and pensioners and follows earlier announcements of guarantees of bank deposits for three years. | It will allow for one-off payments to the country's low-wage earners and pensioners and follows earlier announcements of guarantees of bank deposits for three years. |
| According to Mr Rudd, the strategy "will strengthen the national economy and support Australian households". | According to Mr Rudd, the strategy "will strengthen the national economy and support Australian households". |
| Rescue plans | Rescue plans |
| The US government is expected to announce a $250bn (£143bn) bank rescue plan later, echoing steps taken by the UK and other European countries. | The US government is expected to announce a $250bn (£143bn) bank rescue plan later, echoing steps taken by the UK and other European countries. |
| In return for injecting cash, the US will hold stakes in major banks including Goldman Sachs and Morgan Stanley. | In return for injecting cash, the US will hold stakes in major banks including Goldman Sachs and Morgan Stanley. |
| FROM THE TODAY PROGRAMME More from Today programme | |
| The money will come from the $700bn bail-out package approved by US lawmakers earlier this month. | The money will come from the $700bn bail-out package approved by US lawmakers earlier this month. |
| Unlike the UK plan, all US banks will be expected to take part in the scheme, Ralph Silva, a banking analyst at Tower Group, told BBC News. | Unlike the UK plan, all US banks will be expected to take part in the scheme, Ralph Silva, a banking analyst at Tower Group, told BBC News. |
| The US move follows similar steps taken by the UK government, which on Monday said it would inject up to £37bn of taxpayers cash into Royal Bank of Scotland, Lloyds TSB and HBOS. | The US move follows similar steps taken by the UK government, which on Monday said it would inject up to £37bn of taxpayers cash into Royal Bank of Scotland, Lloyds TSB and HBOS. |
| Likewise, European governments have said they are allocating more than 1 trillion euros to protect the continent's banks through guarantees and other emergency measures. | Likewise, European governments have said they are allocating more than 1 trillion euros to protect the continent's banks through guarantees and other emergency measures. |
| We would like to speak to people directly affected by the global financial crisis. If you own or work for a company experiencing difficulties or are prepared to speak to the BBC about the problems caused for your personal finances, send us your comments using the form below. | We would like to speak to people directly affected by the global financial crisis. If you own or work for a company experiencing difficulties or are prepared to speak to the BBC about the problems caused for your personal finances, send us your comments using the form below. |
| We would also like to know if you have any questions about the current financial situation, if you do please send them on the form below. | We would also like to know if you have any questions about the current financial situation, if you do please send them on the form below. |
| If you wish to make a general comment, do so by visiting our Have Your Say debate - please do not comment here. | If you wish to make a general comment, do so by visiting our Have Your Say debate - please do not comment here. |