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| Shares rise as confidence returns | Shares rise as confidence returns |
| (30 minutes later) | |
| Stock markets worldwide have powered higher, as investors bet that state action to strengthen the banking system will ease the credit crisis. | Stock markets worldwide have powered higher, as investors bet that state action to strengthen the banking system will ease the credit crisis. |
| In New York, the Dow Jones index rose 4%, the UK's FTSE 100 index climbed 5% and Japan's Nikkei saw a record gain. | In New York, the Dow Jones index rose 4%, the UK's FTSE 100 index climbed 5% and Japan's Nikkei saw a record gain. |
| The US has unveiled details of a plan to take stakes in banks, following steps by the UK and European leaders. | The US has unveiled details of a plan to take stakes in banks, following steps by the UK and European leaders. |
| Investors are growing more confident that a complete financial meltdown has been averted. | Investors are growing more confident that a complete financial meltdown has been averted. |
| The Dow Jones index was up 376.74 points at 9,764.35 points shortly after the opening bell in New York. | The Dow Jones index was up 376.74 points at 9,764.35 points shortly after the opening bell in New York. |
| In early afternoon trade, the FTSE 100 was up 217.6 points at 4,474.5 points. | In early afternoon trade, the FTSE 100 was up 217.6 points at 4,474.5 points. |
| In France the Cac 40 was up 5.45% or 192 points, at 3,723.92, while in Germany the Dax index climbed 5.43%, or 274.7 points, to 5,337.14 | In France the Cac 40 was up 5.45% or 192 points, at 3,723.92, while in Germany the Dax index climbed 5.43%, or 274.7 points, to 5,337.14 |
| FTSE 100 INDEX: 14 October 2008*All Times GMT | FTSE 100 INDEX: 14 October 2008*All Times GMT |
| Rebound | Rebound |
| Investors worldwide welcomed the fresh moves to deal with the financial crisis. | Investors worldwide welcomed the fresh moves to deal with the financial crisis. |
| If HM Treasury were the corporate finance department of one of those battered investment banks that are now being rescued, it would be collecting a very fat fee Robert Peston, BBC business editor Read Robert's blogUS unveils $250bn banking rescue | If HM Treasury were the corporate finance department of one of those battered investment banks that are now being rescued, it would be collecting a very fat fee Robert Peston, BBC business editor Read Robert's blogUS unveils $250bn banking rescue |
| In Japan, the Nikkei 225 index ended up 14.2% at 9,447.57 points - its biggest one-day gain to date - as it caught up with gains elsewhere after a public holiday on Monday. | In Japan, the Nikkei 225 index ended up 14.2% at 9,447.57 points - its biggest one-day gain to date - as it caught up with gains elsewhere after a public holiday on Monday. |
| Hong Kong's Hang Seng index ended up 520.4 points, or 3.2%, at 16,832.56. South Korea's index finished the day 6.14% higher. | Hong Kong's Hang Seng index ended up 520.4 points, or 3.2%, at 16,832.56. South Korea's index finished the day 6.14% higher. |
| In India, the benchmark Sensex closed up 174.31 points, or 1.54% percent, at 11,483 points. | In India, the benchmark Sensex closed up 174.31 points, or 1.54% percent, at 11,483 points. |
| "There's relief that banks probably won't go bankrupt thanks to the capital injection plans," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments. | "There's relief that banks probably won't go bankrupt thanks to the capital injection plans," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments. |
| "But after rebounding to some extent, we will inevitably enter a phase of thinking about how the steps will actually impact the global economy." | "But after rebounding to some extent, we will inevitably enter a phase of thinking about how the steps will actually impact the global economy." |
| Japan said it was considering pumping taxpayers' money into regional banks to make sure small firms can get loans. | Japan said it was considering pumping taxpayers' money into regional banks to make sure small firms can get loans. |
| Rescue plans | Rescue plans |
| The US government has announced a $250bn (£143bn) plan to purchase stakes in a wide variety of banks in an effort to restore confidence in the sector. | The US government has announced a $250bn (£143bn) plan to purchase stakes in a wide variety of banks in an effort to restore confidence in the sector. |
| President George W Bush said the move would help to return stability to the US banking sector and ultimately help preserve free markets. | President George W Bush said the move would help to return stability to the US banking sector and ultimately help preserve free markets. |
| US federal authorities will also temporarily insure most new debt issued by US banks and expand deposit insurance. | US federal authorities will also temporarily insure most new debt issued by US banks and expand deposit insurance. |
| 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. |
| BBC business editor Robert Peston said the US and eurozone plans were variations on the template launched a week ago by the UK government despite reservations expressed by other leaders. | BBC business editor Robert Peston said the US and eurozone plans were variations on the template launched a week ago by the UK government despite reservations expressed by other leaders. |
| "If HM Treasury were the corporate finance department of one of those battered investment banks that are now being rescued, it would be collecting a very fat fee," he said. | "If HM Treasury were the corporate finance department of one of those battered investment banks that are now being rescued, it would be collecting a very fat fee," he said. |
| Australian action | Australian action |
| 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. |
| Trading has resumed on the Icelandic stock exchange for the first time since its suspension last Thursday. | Trading has resumed on the Icelandic stock exchange for the first time since its suspension last Thursday. |
| The main share index immediately fell 76%, but officials said this was a statistical anomaly caused by trading in financial firms remaining suspended. | The main share index immediately fell 76%, but officials said this was a statistical anomaly caused by trading in financial firms remaining suspended. |
| 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. |