Shares rallied on both sides of the Atlantic yesterday as the Federal Reserve announced a $306bn bai...
Shares rallied on both sides of the Atlantic yesterday as the Federal Reserve announced a $306bn bailout package for latest casualty in the US banking sector, Citigroup, including $20bn cash injection. The S&P 500 saw a 6.5% rise, building on its recovery from Friday, with Citigroup's share price up almost 60%, to $5.95. The FTSE settled somewhat in early trading after its highest one-day bounce in history, up almost 10% yesterday at the time of the Chancellor's pre-Budget report, which detailed his £20bn fiscal stimulus package to haul Britain out of the recession. The index opened a...
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