Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

South Sudan : rebel Riek Machar slams president Salva Kiir

Read more

AFRICA NEWS

South Africa : Apartheid killer De Kock denied parole

Read more

FOCUS

Bastille Day: youth pays hommage to ancestors who fought 'Great War' (1914 - 1918)

Read more

TALKING EUROPE

Nigel Farage, Leader of the UK Independence Party

Read more

TALKING EUROPE

Endocrine disruptors: Is the EU doing enough to protect its citizens' health?

Read more

WEB NEWS

Israelis taking bomb shelter selfies

Read more

THE INTERVIEW

Pavlo Klimkin, Ukrainian Foreign Minister

Read more

THE INTERVIEW

Raed Fahmi, former Iraqi Minister of Science and Technology

Read more

IN THE PAPERS

Germany's World Cup title

Read more

  • Boules and booze: Bastille Day à la New Yorkaise

    Read more

  • Shipwrecked Costa Concordia successfully refloated

    Read more

  • Alberto Contador out of Tour de France after crash

    Read more

  • In pictures: 2014 World Cup historic moments

    Read more

  • France commemorates WWI centenary on Bastille Day

    Read more

  • Paris’s Bastille Day fireworks ‘a homage to victims’ of WWI

    Read more

  • Germany defeat Argentina 1-0 to win fourth World Cup title

    Read more

  • Kremlin mulls 'retaliatory strikes' after death of Russian civilian

    Read more

  • Senegal honours the soldiers who fought for France in WWI

    Read more

  • Clashes erupt in Paris as thousands march to support Palestinians

    Read more

  • Thousands flee northern Gaza after Israeli warning

    Read more

  • Major differences remain as deadline looms in Iran nuclear talks

    Read more

  • Rival Libyan militias exchange heavy fire at Tripoli airport

    Read more

  • French military to extend Mali 'counterterrorism' operations into Sahel

    Read more

European markets jitter as hopes hang on US bailout plan

©

Latest update : 2008-09-30

Shares in European stock markets have fluctuated wildly in mid-morning trade as investors hope that US lawmakers would eventually agree on a billion-dollar rescue package to shore up financial markets.

Watch our Top Story, "Bailout on the ropes", and our Debate, "Crisis strikes Europe".

 

Read Douglas Herbert's commentary: "What if there's no bailout?"

 

European shares reversed steep early losses to turn positive in early Tuesday trade as investors bet that a rejected U.S. financial sector bailout package would eventually go through.
 
At 0815 GMT, the FTSEurofirst 300 index of top European shares was up 0.1 percent at 1,048.54 points as banks pared early losses and miners performed strongly on firm gold prices.
 
Among financials, ING gained 4.8 percent, Standard Chartered and HSBC rose 0.8 percent.
 
Rio Tinto led miners higher with a 4.3 percent rise.
 
U.S. lawmakers rejected the $700 billion bailout package on Monday, sending Wall Street into a tailspin.
 
"No one really expected a no vote, but it's encouraging that they're clearly going to vote on this again. Bush and Paulson will use their political might to twist people's arms. If you call heads or tails and lose, you toss the coin again," said an equities trader.
 
"Some people are also seeing the Irish government stepping in as a sign that more governments will get involved. We're coming off oversold positions but people will sell in any rally," he said.
 
Anglo Irish Bank jumped 21.7 percent and Allied Irish Banks gained 11 percent after the Irish government announced it would guarantee all deposits for two years to maintain financial stability.
 
"There is a decent chance that European Central Banks (ECB, BoE, SNB, Riksbank and the Danish Central Bank) will make emergency easing soon, perhaps this week, especially if the U.S. Fed is also ready to cut again," Citigroup said in a note.

Date created : 2008-09-30

Comments

COMMENT(S)