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| Version 2 | Version 3 |
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| Stock markets give up early gains | Stock markets give up early gains |
| (about 8 hours later) | |
| Shares on Wall Street ended lower after worries about the upcoming corporate earnings season hit prices. | |
| The Dow Jones closed 0.5% lower amid reports that IBM may abandon its takeover of Sun Microsystems. | |
| European markets gave up early gains. After rising more than 1% at first, the UK's FTSE 100 index was down 0.6%, and French and German stocks also fell. | European markets gave up early gains. After rising more than 1% at first, the UK's FTSE 100 index was down 0.6%, and French and German stocks also fell. |
| Earlier, shares had extended a recent rally inspired by hopes that the worst might be over for the world economy. | Earlier, shares had extended a recent rally inspired by hopes that the worst might be over for the world economy. |
| The FTSE 100 index was down 22.27 points at 4,007.4 in afternoon trade. | The FTSE 100 index was down 22.27 points at 4,007.4 in afternoon trade. |
| France's Cac 40 index was down 1.57% to 2,912.3 while Germany's Dax index had fallen 0.76% to 4,351.69. | France's Cac 40 index was down 1.57% to 2,912.3 while Germany's Dax index had fallen 0.76% to 4,351.69. |
| Bulls emerge? | Bulls emerge? |
| In Asia on Monday, Hong Kong's Hang Seng index ended up 3.1%, while Japan's Nikkei rose 1.2%. | In Asia on Monday, Hong Kong's Hang Seng index ended up 3.1%, while Japan's Nikkei rose 1.2%. |
| Investors were hopeful that low interest rates, stimulus plans and banking bail-outs would begin to pull the world economy out of its slump. | Investors were hopeful that low interest rates, stimulus plans and banking bail-outs would begin to pull the world economy out of its slump. |
| The gains in Asia came after US stocks ended higher on Friday, logging a fourth week of consecutive gains, despite gloomy data on the jobs market. Markets were also lifted by news that investors had strongly backed HSBC's rights issue - the biggest in UK corporate history. | The gains in Asia came after US stocks ended higher on Friday, logging a fourth week of consecutive gains, despite gloomy data on the jobs market. Markets were also lifted by news that investors had strongly backed HSBC's rights issue - the biggest in UK corporate history. |
| The pace of deterioration may have been decelerating Robert Peston, BBC business editor Read Robert's blog | The pace of deterioration may have been decelerating Robert Peston, BBC business editor Read Robert's blog |
| Asian markets shrugged off news of a rocket launch by North Korea, focusing instead on economic figures. | Asian markets shrugged off news of a rocket launch by North Korea, focusing instead on economic figures. |
| Japanese exporters, such as Panasonic, got a boost as the yen weakened and after US Federal Reserve chairman Ben Bernanke said that Fed strategies were easing the US financial crisis. | Japanese exporters, such as Panasonic, got a boost as the yen weakened and after US Federal Reserve chairman Ben Bernanke said that Fed strategies were easing the US financial crisis. |
| BBC business editor Robert Peston says that share prices have been rising recently not because there is evidence of economic recovery - but rather on hopes that the pace of deterioration may be decelerating. | BBC business editor Robert Peston says that share prices have been rising recently not because there is evidence of economic recovery - but rather on hopes that the pace of deterioration may be decelerating. |
| He says there is evidence that the availability of credit is improving in the UK , and that the underlying message from recent mixed data on the UK housing market may be that prices are not dropping as quickly as they were. | He says there is evidence that the availability of credit is improving in the UK , and that the underlying message from recent mixed data on the UK housing market may be that prices are not dropping as quickly as they were. |