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After key battle, Syrian town of Kobane looks to the future

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'War is not an option,' says former FARC guerrilla leader

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EYE ON AFRICA

Madagascar political crisis: top court orders formation of unity government

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MEDIAWATCH

Ireland's abortion referendum

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THE WORLD THIS WEEK

Weinstein in court; Ireland abortion vote; Italy's populist takeover

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YOU ARE HERE

Sugar and spice: The flavours of the French Caribbean

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FRENCH CONNECTIONS

The French are so rude! Or are they?

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ENCORE!

The writing's on the wall: Revolutionary posters from May 68

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REPORTERS

'We heard there might be a civil war': May 68 seen from abroad

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Markets trim losses after global rate cuts

Latest update : 2008-10-08

Coordinated interest rate cuts from central banks across the world helped stock markets trim deep losses on Wednesday, but failed to erase the downward trend. Nevertheless, Wall Street looked set for a positive start.

LONDON, Oct 8 (Reuters) - Stock markets trimmed deep losses on Wednesday after coordinated interest rate cuts from central banks across the world and Wall Street looked set for a postive start.

Cuts from the U.S. Federal Reserve, European Central Bank, Bank of England and People's Bank of China, among others, were designed to inject confidence into markets reeling from the worst financial crisis in nearly 80 years.

The moves helped pare back the steep losses that were sweeping the world earlier, but failed to erase the downward trend.

MSCI's benchmark world index was down 2 percent compared with losses of 2.9 percent when the cuts were announced.

The pan-European FTSEurofirst 300 was down 1.4 percent some 10 minutes after the move compared with losses of around 3.8 percent beforehand.

Date created : 2008-10-08

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