US reconstruction lays the foundations for FTSE’s rise

The FTSE 100 soared more than 6 per cent yesterday as stock markets around the world rallied in response to Barack Obama’s plans for a huge economic stimulus package that could be worth more than $1 trillion ($£670 billion). The blue-chip index closed 250.69 points higher at 4300.06. It was also buoyed by hopes of a new Chinese stimulus package and a bailout for American carmakers.

Rio Tinto undermined by takeover defence costs

Mounting fears that Rio Tinto would be forced into an equity issue to pay off debt due next year made it London’s worst blue-chip performer.

Shrinking demand pushes Wolseley on to ‘sell’ list

It is being assailed on all sides, from the credit crunch, exchange rates, the construction downturn and lending shutdowns, so the message from an RBS analyst yesterday about Wolseley, the world’s largest builder’s merchant, was, perhaps, inevitable. According to John Messenger, a cash call is inescapable.

Wall Street extends advance to third day

Investors sent the overall stock market higher Tuesday, heartened by government plans to aid companies that lend to consumers, including credit card issuers. Some big-name tech stocks lagged the broader market, but the Dow Jones industrials and Standard & Poor's 500 index were advancing for the third straight day.

Wall Street pauses after big 2-day rally

Wall Street paused Tuesday after a huge two-day rally, with investors heartened by government plans to aid consumer lending companies but deciding it's time to cash in some profits.

European markets open higher amid rate cut hopes

Europe's stock markets opened modestly higher Monday after solid gains in Asia overnight and amid mounting expectations that the European Central Bank and the Bank of England will aggressively cut borrowing costs this week.