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| US rises boost European markets | |
| (about 1 hour later) | |
| European stock markets opened higher on Thursday following Wednesday's recovery in the US. | |
| After 10 minutes of trading the UK's FTSE 100 index was up 0.9% while the Cac 40 in Paris had risen 1.1%. | |
| On Wall Street, the Dow Jones had closed 1.9% higher after comments from Federal Reserve boss Ben Bernanke lifted hopes of a US interest rate cut. | |
| Asian stock markets also rose on the news, with the Nikkei in Tokyo closing up 0.9% at 16,153.8. | |
| The US Federal Reserve chief said he was "prepared to act as needed" to ensure credit market troubles do not adversely affect the economy. | The US Federal Reserve chief said he was "prepared to act as needed" to ensure credit market troubles do not adversely affect the economy. |
| The Federal Reserve's interest-rate setters will meet on 18 September when they will consider whether to match their cut in the rate at which they lend to banks with a cut in the benchmark Federal Funds rate. | The Federal Reserve's interest-rate setters will meet on 18 September when they will consider whether to match their cut in the rate at which they lend to banks with a cut in the benchmark Federal Funds rate. |
| Wednesday's rises on Wall Street meant that New York shares had clawed back almost all of their losses from Tuesday, which followed warnings about the profitability of some of the world's biggest banks. | Wednesday's rises on Wall Street meant that New York shares had clawed back almost all of their losses from Tuesday, which followed warnings about the profitability of some of the world's biggest banks. |