World stockmarkets rallied on Friday, reversing many of the losses suffered on 'Black Monday' when fears over China's economy spooked investors across the globe.
The relief rally started in the US as markets opened sharply higher following a significant upward revision of the nation's GDP growth estimate for the second quarter, to 3.7%. The original forecast was of a 2.3% rise. This sent the S&P 500 rallying 1.6% to 1,971, while the Dow Jones was up 1.4% to 16,518. After a volatile day's trading, the S&P 500 recovered about half of its 11% drop over six days and was up 2.4% to 1,987. The Dow Jones climbed 2.27% to 16,655, moving out of correction territory. Meanwhile, the FTSE 100 recorded one of its best ever days, rising 3.7% to close at 6,1...
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