In London, markets made a strong recovery as investor worries over debt markets calmed and the FTSE 100 closed up 109.9, or 1.81%, at 6,196.
Lonmin shares saw the biggest gains, up 214p, or 7.22%, to £31.77, followed by Rio Tinto, which added 209 points, or 6.81%, to £32.80. Experian shares were up 33 points, or 6.7%, to 525.5p, Hammerson gained 81p, or 6.61%, to £13.07, and Punch Taverns shares were up 62.5 points, or 6.4%, to £10.39.
Scottish & Southern Energy saw the biggest losses and shares fell by 42 points, or 2.94%, to £13.85. BT shares were down 7 points, or 2.24%, to 305p and DSG international shares fell 1 points, or 0.63%, to 159p.
On Wall Street, markets opened strongly on news that the Federal Reserve might cut interest rates, with the Dow Jones up by 85.11, or 0.65%, to 13,175.97.
Alcoa made the biggest early gains, up 1.21, or 3.5%, to 35.81, followed by Caterpillar, which saw shares rise 1.39, or 1.87%, to 75.67. AT&T shares added 0.67, or 1.73%, to 39.42, Du Pont climbed 0.62, or 1.3%, to 48.37, and 3M gained 0.98, or 1.11%, to 88.96.
Gains were partially offset by a small number of minor losses, including JP Morgan Chase, which was down 0.5, or 1.08%, to 45.70. Verizon shares fell 0.2, or 0.48%, to 41.51 while General Motors lost 0.05, or 0.16%, to 31.03.
If you would like to comment on this story, contact:
Tel: 020 7034 2682
e-mail: [email protected]
Working with fintech InvestCloud
Subject to unitholder approval
Partner Insight: Introducing the Architas education series for clients.
'Fewer than 1% of firms PROD-compliant' - Rory Percival
'Left holding the can'