Around the World's Markets

LONDON

THE SURPRISE US interest rate cut had shares in positive territory from the start of trading. But best levels were not held.

At the close of trading Footsie was up 76.8 points at 5,133.1. Earlier it scored a 151 point gain. Supporting shares were also firm.

Shares that were devastated during the bear run led the recovery with fund manager Amvescap, hit by hedge fund rumours, up 39.75p to 394p. Barclays, another casualty of the slide, put on 60p to 1,30p.

TOKYO

THE OVERNIGHT cut in US interest rates had relatively little effect, and the Nikkei 225 share index closed 285.17 points higher at 13,280.54 in subdued trading.

Bank shares firmed ahead of the announcement of new credit facilities, with Tokyo-Mitsubishi Bank up 40 yen at 1,000 yen, Sumitomo up 27 at 1.028 yen and Sanwa closing 35 higher at 817 yen. Long-Term Credit Bank closed down 4 at 4 yen. Blue chips such as Sony and Matsushita Electric, and IT stocks also gained ground.

HONG KONG

THE HANG SENG index leaped sharply in response to the US move to lower interest rates and closed almost 9 per cent higher on the day, up 806.59 at 9,777.01, ahead of moves to cut local base rates.

HSBC rose 13 to HK$175.50, and Dao heng Bank was up 3.30 at HK$17.10. Property stocks also rallied on hopes that property values have bottomed out, while China Telecom rose 0.95 to HK$14.90 and Hong Kong Telecom rose 0.95 to HK$16.50.

FRANKFURT

SHARE PRICES rose by an average of 4 per cent in early trading, but the Dax index closed only 90 higher at 4,489.1 after analysts decided the sudden rate cut in the US could signify an element of panic at the Fed. They also feared it could lead to a fall in the dollar against the mark, making German exports more expensive at a time when the Bundesbank is unlikely to allow a compensating cut in German interest rates. BASF fell 1.28 to Dm60.42 and Schering was down 3.5 to Dm175.40.

Start your day with The Independent, sign up for daily news emails
  • 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

Recruitment Genius: Financial Adviser

£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...

SThree: Graduate Recruitment Resourcer

£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...

Guru Careers: Application Support Analyst / 1st Line Support

£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...

Guru Careers: .NET Developer / Web Developer

£45K - £55K (DOE) + Benefits: Guru Careers: We are seeking a full stack .NET D...

Day In a Page

Not even the 'putrid throat' could stop the Ross Poldark swoon-fest'

Not even the 'putrid throat' could stop the Ross Poldark swoon-fest'

How a costume drama became a Sunday night staple
Miliband promises no stamp duty for first-time buyers as he pushes Tories on housing

Miliband promises no stamp duty for first-time buyers

Labour leader pushes Tories on housing
Aviation history is littered with grand failures - from the the Bristol Brabazon to Concorde - but what went wrong with the SuperJumbo?

Aviation history is littered with grand failures

But what went wrong with the SuperJumbo?
Fear of Putin, Islamists and immigration is giving rise to a new generation of Soviet-style 'iron curtains' right across Europe

Fortress Europe?

Fear of Putin, Islamists and immigration is giving rise to a new generation of 'iron curtains'
Never mind what you're wearing, it's what you're reclining on

Never mind what you're wearing

It's what you're reclining on that matters
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband

Chuka Umunna: A virus of racism runs through Ukip

The shadow business secretary on the benefits of immigration, humility – and his leader Ed Miliband
Yemen crisis: This exotic war will soon become Europe's problem

Yemen's exotic war will soon affect Europe

Terrorism and boatloads of desperate migrants will be the outcome of the Saudi air campaign, says Patrick Cockburn
Marginal Streets project aims to document voters in the run-up to the General Election

Marginal Streets project documents voters

Independent photographers Joseph Fox and Orlando Gili are uploading two portraits of constituents to their website for each day of the campaign
Game of Thrones: Visit the real-life kingdom of Westeros to see where violent history ends and telly tourism begins

The real-life kingdom of Westeros

Is there something a little uncomfortable about Game of Thrones shooting in Northern Ireland?
How to survive a social-media mauling, by the tough women of Twitter

How to survive a Twitter mauling

Mary Beard, Caroline Criado-Perez, Louise Mensch, Bunny La Roche and Courtney Barrasford reveal how to trounce the trolls
Gallipoli centenary: At dawn, the young remember the young who perished in one of the First World War's bloodiest battles

At dawn, the young remember the young

A century ago, soldiers of the Empire – many no more than boys – spilt on to Gallipoli’s beaches. On this 100th Anzac Day, there are personal, poetic tributes to their sacrifice
Dissent is slowly building against the billions spent on presidential campaigns – even among politicians themselves

Follow the money as never before

Dissent is slowly building against the billions spent on presidential campaigns – even among politicians themselves, reports Rupert Cornwell
Samuel West interview: The actor and director on austerity, unionisation, and not mentioning his famous parents

Samuel West interview

The actor and director on austerity, unionisation, and not mentioning his famous parents
General Election 2015: Imagine if the leading political parties were fashion labels

Imagine if the leading political parties were fashion labels

Fashion editor, Alexander Fury, on what the leaders' appearances tell us about them
Phumzile Mlambo-Ngcuka: Home can be the unsafest place for women

Phumzile Mlambo-Ngcuka: Home can be the unsafest place for women

The architect of the HeForShe movement and head of UN Women on the world's failure to combat domestic violence