Around the World's Markets

LONDON

SHARES staged a recovery, with Footsie at one time up 118 points and ending with 55.5-point gain at 5,455. More benign overseas markets helped sentiment, as did a steady stream of takeover rumours with Lloyds TSB at centre stage.

Credit Lyonnais produced a report dwelling on the possibility of Lloyds, known to be looking for a major acquisition, merging with HSBC, owner of Midland Bank. Lloyds shares rose 51.5p to 755p, and HSBC was up 66p at 1,326p.

Derek Pain, page 21

NEW YORK

WALL STREET stocks were up but well off early highs, aided by stability in Asian and Russian markets and a surge in JP Morgan on reports that it may merge with a European bank.

The Dow was quickly up almost 100 points, but blue chips were soon off their highs, up only 37 at 8,496. "Our market is responding to positive markets overseas, especially strength in Hong Kong," said Peter Coolidge, senior equity trader at Brean Murray & Co.

TOKYO

THE NIKKEI 225 average fell for the ninth time in 10 sessions on fears that Sony, Toyota and other major exporters facing declines in profits. The benchmark index fell 258.09 points, or 1.68 per cent, to 15,123.93 - its biggest one-day drop since 27 July.

The broader Topix index of all issues on the first section of the Tokyo exchange fell 12.91 points, or 1.09 per cent, to 1,168.80. Traders said investors were nervous about returning to domestic sectors while uncertainties remain.

BANGKOK

THAI stocks ended an eight-day losing streak as the yen stabilised, easing concerns that Hong Kong would break its 13-year peg to the US dollar. Banks led the advance: yesterday the government took over seven financial companies, including two small banks, and ordered that their shareholder equity be written off against bad loans.

The benchmark SET index rose 6.69 points, or 2.9 per cent, to 237.56, led by Bangkok Bank and the Thai Military Bank.

HONG KONG

SHARES gained after the government bought stocks and futures for the first time to fend off an assault on the currency.

The Hang Seng index surged 8.5 per cent to 7,224.69, the biggest rally in six months. The latest attack on the Hong Kong dollar threatens the economy and public by driving up borrowing costs, said the Financial Secretary, Donald Tsang. Hong Kong is now heading for its first recession in more than a decade, and currency doubts have pushed up interest rates.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Ashdown Group: Trainee Consultant - Surrey / South West London

£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...

Ashdown Group: Trainee Consultant - Surrey/ South West London

£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...

Recruitment Genius: Client Services Assistant

£18000 - £20000 per annum: Recruitment Genius: A Client Services Assistant is ...

Ashdown Group: Junior Application Support Analyst - Fluent German Speaker

£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...

Day In a Page

No postcode? No vote

Floating voters

How living on a houseboat meant I didn't officially 'exist'
Louis Theroux's affable Englishman routine begins to wear thin

By Reason of Insanity

Louis Theroux's affable Englishman routine begins to wear thin
Power dressing is back – but no shoulderpads!

Power dressing is back

But banish all thoughts of Eighties shoulderpads
Spanish stone-age cave paintings 'under threat' after being re-opened to the public

Spanish stone-age cave paintings in Altamira 'under threat'

Caves were re-opened to the public
'I was the bookies’ favourite to be first to leave the Cabinet'

Vince Cable interview

'I was the bookies’ favourite to be first to leave the Cabinet'
Election 2015: How many of the Government's coalition agreement promises have been kept?

Promises, promises

But how many coalition agreement pledges have been kept?
The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

The death of a Gaza fisherman

He built his own reef, and was fatally shot there by an Israeli gunboat
Saudi Arabia's airstrikes in Yemen are fuelling the Gulf's fire

Saudi airstrikes are fuelling the Gulf's fire

Arab intervention in Yemen risks entrenching Sunni-Shia divide and handing a victory to Isis, says Patrick Cockburn
Zayn Malik's departure from One Direction shows the perils of fame in the age of social media

The only direction Zayn could go

We wince at the anguish of One Direction's fans, but Malik's departure shows the perils of fame in the age of social media
Young Magician of the Year 2015: Meet the schoolgirl from Newcastle who has her heart set on being the competition's first female winner

Spells like teen spirit

A 16-year-old from Newcastle has set her heart on being the first female to win Young Magician of the Year. Jonathan Owen meets her
Jonathan Anderson: If fashion is a cycle, this young man knows just how to ride it

If fashion is a cycle, this young man knows just how to ride it

British designer Jonathan Anderson is putting his stamp on venerable house Loewe
Number plates scheme could provide a licence to offend in the land of the free

Licence to offend in the land of the free

Cash-strapped states have hit on a way of making money out of drivers that may be in collision with the First Amendment, says Rupert Cornwell
From farm to fork: Meet the Cornish fishermen, vegetable-growers and butchers causing a stir in London's top restaurants

From farm to fork in Cornwall

One man is bringing together Cornwall's most accomplished growers, fishermen and butchers with London's best chefs to put the finest, freshest produce on the plates of some of the country’s best restaurants
Robert Parker interview: The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes

Robert Parker interview

The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes
Don't believe the stereotype - or should you?

Don't believe the stereotype - or should you?

We exaggerate regional traits and turn them into jokes - and those on the receiving end are in on it too, says DJ Taylor