Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Markets soar on G7 pledge

Staff Reporter 1 minute read

World equity markets rocketed over night as investors flooded back to capitalise on bargain share prices.

In the US the Dow Jones surged more than 11 per cent to 9387.61 points – the largest one-session gain in 75 years.

The London FTSE also posted a strong gain of 8.26 per cent after the British government invested £37 billion (A$92 billin) into three of the country’s biggest lenders – Royal Bank of Scotland, HBOS and Lloyds TSB.

The unprecedented investment will see the British government take majority control of the three banks, halt dividends and eliminate cash bonuses paid to directors.

Other measures to stabilise financial markets have now been announced right across Europe and stock markets have all recorded similar recoveries.

Published: 14-10-08

Advertisement
Advertisement

Today's other news

Markets soar on G7 pledge
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
arrow up increase ta Major bank hikes fixed rates amid turnaround time debacle

A big four bank has announced that it has increased its fixed rat...

parliament house ta Government overstates JobKeeper uptake

A “reporting error” identified by Treasury and the ATO has re...

meeting top view ta Loan Market sees surge in repricing enquiries

While refinancing has been rising recently, Loan Market’s execu...

FROM THE WEB