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| Version 3 | Version 4 |
|---|---|
| Shares rise on US rate cut hopes | Shares rise on US rate cut hopes |
| (about 1 hour later) | |
| European and Asian shares have risen on growing expectations that the US Federal Reserve will announce a further cut in interest rates. | European and Asian shares have risen on growing expectations that the US Federal Reserve will announce a further cut in interest rates. |
| As the US central bank prepares for its latest rate vote on Wednesday, the UK's FTSE index was up 54 points or 0.9% to 5,843 in lunchtime trading in London. | |
| Germany's Dax was 1% higher, while Japan's Nikkei earlier closed up 3%. | Germany's Dax was 1% higher, while Japan's Nikkei earlier closed up 3%. |
| The Fed is tipped to cut US rates to 3.25% or even 3% from the current 3.5%, as it moves to ease recession fears. | The Fed is tipped to cut US rates to 3.25% or even 3% from the current 3.5%, as it moves to ease recession fears. |
| Last week, it reduced rates to 3.5% from 4.25% in an emergency move after global stocks fell heavily. | Last week, it reduced rates to 3.5% from 4.25% in an emergency move after global stocks fell heavily. |
| Sustainable gains? | Sustainable gains? |
| However, some analysts warned that while global investors were currently being cheered by the expected cut in US interest rates, further weak American economic data could bring shares back down again. | However, some analysts warned that while global investors were currently being cheered by the expected cut in US interest rates, further weak American economic data could bring shares back down again. |
| Markets look likely to extend a roller-coaster ride, at least in the first half of 2008 when more dismal news about the US economy is expected to be released Lee Kyung-soo, an analyst at Daewoo Securities | Markets look likely to extend a roller-coaster ride, at least in the first half of 2008 when more dismal news about the US economy is expected to be released Lee Kyung-soo, an analyst at Daewoo Securities |
| Following record-low US new home sales figures released on Monday, the latest American consumer confidence data is released later on Tuesday. | Following record-low US new home sales figures released on Monday, the latest American consumer confidence data is released later on Tuesday. |
| "Expectations for further US rate cuts are lifting markets, but whether the market could sustain the gains, it's up to a series of US economic data due soon," said Lee Kyung-soo, an analyst at Daewoo Securities. | "Expectations for further US rate cuts are lifting markets, but whether the market could sustain the gains, it's up to a series of US economic data due soon," said Lee Kyung-soo, an analyst at Daewoo Securities. |
| "Markets look likely to extend a roller-coaster ride, at least in the first half of 2008 when more dismal news about the US economy is expected to be released." | "Markets look likely to extend a roller-coaster ride, at least in the first half of 2008 when more dismal news about the US economy is expected to be released." |
| Wall Street's main Dow Jones index closed Monday trading up 1.45% or 177 points. | Wall Street's main Dow Jones index closed Monday trading up 1.45% or 177 points. |