Global Markets Rally After Rescue Talks

Banks gain big in European trading

By Mary Papenfuss, Newser Staff

Posted Oct 13, 2008 2:58 AM CDT

(Newser) – Asian and European markets were up today following announcements by global leaders of wide-ranging economic rescue packages. France's Cac 40 index and London's FTSE 100 index both bounced more than 5%, with banking shares posting some of the biggest gains, the BBC reports. Australia's main index jumped 5.6% and Hong Kong shares were up 3.2%, though Taiwan stocks fell 2.1%. EU leaders vowed yesterday that governments would allow no major bank to fail.

Pedestrians walk past a bank in Sydney today. Australian markets rebounded strongly in response to a government announcement that it would guarantee all bank deposits for three years. (AP Photo/Rick Rycroft)

A man adjusts his chair at a table at the Australian Stock Exchange in Sydney today. The Australian market rebounded sharply. (AP Photo/Rick Rycroft)

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Banks gain big in European trading

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As Crises Spread, Europe Scrambles for an Answer

Even healthier countries now feeling pinch

IMF: Blame Europe for Longer Recession

EU policy blunders likely to result in longer slowdown for rest of world

EU Expects Deep, Lengthy Recession

Government spending will be only thing keeping European economies afloat

Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

Bush to Host Economic Summit

World meeting to be held 'in the near future'

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Banks gain big in European trading

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OTHER STORIES ON OUR RADAR

European Union • global economy • markets • economy • financial crisis

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

As Crises Spread, Europe Scrambles for an Answer

Even healthier countries now feeling pinch

IMF: Blame Europe for Longer Recession

EU policy blunders likely to result in longer slowdown for rest of world

EU Expects Deep, Lengthy Recession

Government spending will be only thing keeping European economies afloat

Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

Bush to Host Economic Summit

World meeting to be held 'in the near future'

About Us

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Newser By Users

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