European stock markets soared on Monday as Germany, France and other euro zone countries presented their rescue plans to guarantee bank debt and inject capital into the financial sector. But some analysts warn the stock market volatility may not be over. Like other European leaders, Germany's Angela Merkel is having to dig deep into her treasury coffers to make up to €500 billion available for her country's financial crisis rescue plan. Stock markets across Europe soared on Monday as a wave of relief washed over trading floors following Sunday's pledges by European leaders to commit government funds in massive bailout packages. The German government unveiled a €500 billion ($679 billion) rescue plan to shore up the banking system after Sunday's emergency summit of euro zones nations at which leaders agreed to guarantee new bank debt and inject capital to unfreeze money markets and restore confidence in the financial system.
European stock markets soared on Monday as Germany, France and other euro zone countries presented their rescue plans to guarantee bank debt and inject capital into the financial sector. But some analysts warn the stock market volatility may not be over.
Like other European leaders, Germany's Angela Merkel is having to dig deep into her treasury coffers to make up to €500 billion available for her country's financial crisis rescue plan.
Stock markets across Europe soared on Monday as a wave of relief washed over trading floors following Sunday's pledges by European leaders to commit government funds in massive bailout packages.
The German government unveiled a €500 billion ($679 billion) rescue plan to shore up the banking system after Sunday's emergency summit of euro zones nations at which leaders agreed to guarantee new bank debt and inject capital to unfreeze money markets and restore confidence in the financial system.
PARIS: The major stock exchanges in New York followed Europe and Asia higher Monday morning, inspired by efforts over the weekend to reassure investors that governments would act to restore confidence in the financial system. The Dow Jones industrial average was up 5 percent or about 422 points in early trading. The broader Standard & Poor's 500-stock index was also up 5 percent. Shares in Europe and Asia also moved higher after European leaders announced plans to inject new capital into troubled financial institutions and guarantee interbank lending, and central banks announced new measures aimed at restarting frozen credit markets. And in Washington, Neel Kashkari, assistant Treasury secretary for financial stability, and brand-new overseer of the $700 billion bailout, outlined the administration's plan for tackling the financial crisis.
PARIS: The major stock exchanges in New York followed Europe and Asia higher Monday morning, inspired by efforts over the weekend to reassure investors that governments would act to restore confidence in the financial system.
The Dow Jones industrial average was up 5 percent or about 422 points in early trading. The broader Standard & Poor's 500-stock index was also up 5 percent.
Shares in Europe and Asia also moved higher after European leaders announced plans to inject new capital into troubled financial institutions and guarantee interbank lending, and central banks announced new measures aimed at restarting frozen credit markets.
And in Washington, Neel Kashkari, assistant Treasury secretary for financial stability, and brand-new overseer of the $700 billion bailout, outlined the administration's plan for tackling the financial crisis.
Can´t help the (deja vu) laughter of October 87... because gamers haven´t learned a thing. Our knowledge has surpassed our wisdom. -Charu Saxena.
