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Stock markets react positively

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Source: CCTV.com | 10-14-2008 08:51

Special Report:   Global Financial Crisis

Coordinated actions by European countries have once again injected confidence into the world's major stock markets.

A trader at the Frankfurt Stock Exchange where the DAX index was up 5.32 percent at 4,786.12 points. European governments tried to shore up confidence in the financial sector by purchasing stakes in banks and approving billions of dollars in loans in a move to stabilise panic-stricken markets.(AFP/DDP/Martin Oeser)
A trader at the Frankfurt Stock Exchange where the DAX
index was up 5.32 percent at 4,786.12 points. 
(AFP/DDP/Martin Oeser)

On Monday, major indexes in Europe and the US rebounded after previous week's record losses.

On the London stock market, investors are reassured by the news that three major British banks could take 37 billion pounds in government money to boost their capital.

On Monday, the FTSE 100 index jumped more than 8 percent to close at over 4,256. It's the biggest one-day surge since mid-September.

At the close, Germany's DAX was 11.4 percent higher, at over 5,062. While France's CAC-40 was up 11.2 percent, at over 3,531.

Meanwhile, Wall Street also snapped back from last week's devastating losses. All the major indexes rose over 11 percent, setting a new record of the biggest increase in one day. The Dow Jones Industrials gained more than 900 points above 9,387.

But analysts say Wall Street is likely to see volatile, back-and-forth trading in the coming weeks, as investors work through their concerns about the overall economy.

 

Editor:Zhang Pengfei