Asian stocks clung to small gains while the yen slipped on Thursday after central banks from China to Europe and the United States cut interest rates to support the global economy, though investors were tense with credit markets ECB will back banks as long as necessary: Trichet ...
German KfW bank axes two directors over Lehman transfers ... still dysfunctional.
Major European stock markets opened higher in early trading, helped by a steadier performance in Asia, which suffered its biggest falls in 20 years. In initial trading London's FTSE jumped to 1.48 percent. French stocks rose by 1.99 percent while Frankfurt's DAX opened 0.81 percent higher. In an unprecedented display of international coordination, the US Federal Reserve, the European Central Bank and others including China's central bank on Wednesday executed emergency rate cuts amid the plunging global equity markets. Still, analysts said more will certainly have to be done by policymakers before the worst financial crisis since the Great Depression is over, particularly with a meeting of the Group of Seven industrialised nations coming up on Friday.
(Deutsche Welle)
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