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| Shares rise as confidence returns | Shares rise as confidence returns |
| (10 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 4% in early trade, while Japan's Nikkei stock index posted a record 14% gain. | London's FTSE 100 index rose 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. | President George W Bush will make a statement about the bank plan shortly before US markets open. |
| In morning trade, the FTSE 100 was up 174.53 points at 4,431.43. Bank shares led the gains, with Barclays up 12%. | In morning trade, the FTSE 100 was up 174.53 points at 4,431.43. Bank shares led the gains, with Barclays up 12%. |
| In France the Cac 40 was up 4.55%, or 160.67 points, at 3,692.17, while in Germany the Dax index climbed 3.67%, or 185.7 points, to 5,248.15. | In France the Cac 40 was up 4.55%, or 160.67 points, at 3,692.17, while in Germany the Dax index climbed 3.67%, or 185.7 points, to 5,248.15. |
| FTSE 100 INDEX: 14 October 2008*All Times GMT | FTSE 100 INDEX: 14 October 2008*All Times GMT |
| Rebound | Rebound |
| 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. |
| 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 set to outline 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 set to outline 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. |
| In Hong Kong, the 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 Hong Kong, the 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. |
| "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." |
| 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. |
| 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 | 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. |
| 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. |
| 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. |