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Global markets rally ahead of Senate bail-out vote

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Global markets rally ahead of Senate bail-out vote


The Dow Jones was up five percent at the close of trading on Wall Street last night, a reflection of fresh hope over the planned financial bail out bid.

Markets in the Far East have shown slight increases on opening this morning, with the Nikkei up 1.2 percent.

European markets also showed an increase at the end of yesterday on the back of the renewed confidence in the US. After wild fluctuations, most finished up, some – like Belgium’s Bel20 – by more than three percent.

However, on the exchanges the euro slumped against the dollar, falling by the most since it was introduced in 1999.

US senators are due to vote on a revised financial bail out plan later today, after the initial proposal was thrown out by the House of Representatives.

The proposal has been tweaked in a bid to make its passage smoother. Experts say less voter pressure in the Senate may mean the bill is more successful.

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