In London, shares made a major recovery after the Bank of England announced lower than expected inflation figures, and the FTSE 100 added 181.9 points (3.19%) to 5,889.6.
ICAP made some major gains, up 47 points (7.16%) to 703p, while mining firm Vedanta added 128 points (6.76%) to £20.22 after a worldwide rally in mining shares.
Admiral Group was the only share to fall on Tuesday, down 10.5 points (1.12%) to 924p.
On Wall Street, markets climbed rapidly as Warren Buffet announced plans to take over the liabilities of struggling bond insurers, and the Dow Jones was up 194.28 points (1.59%) to 12,434.29.
Boeing saw the biggest gains, adding 3.35 (4.13%) to 84.48, closely followed by AIG, which recovered some of the ground it lost yesterday, up 1.82 (4.07) to 46.56. Merck also made major gains, up 1.67 (3.69%) to 46.98.
By early afternoon, there were no losers on the Dow Jones index.
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