China Rate Cut Aids FTSE And Dow Fightback

9 years ago | Posted in: Business | 641 Views

The FTSE 100 index of Britain’s leading shares has clawed back many of the big losses it sustained on so-called ‘Black Monday’ – boosted by a fresh interest rate cut in China.

The Footsie ended Tuesday up 182 points (3.09%) at 6081 as £46.7bn was added to the value of the index after it lost around £74bn (4.7% or 289 points) yesterday in its biggest daily drop since 2009.

There were also increases in European markets, with Germany’s DAX and France’s CAC both up around 4% at the close.

America’s Dow Jones was also in positive territory, adding around 2% after it suffered big losses a day earlier.

Bond yields and oil prices also rallied on the Chinese intervention… see more

source: skynews

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