The world’s stock markets are again on the rise.
Investors are reacting to signs of success in efforts by governments to push down short-term lending rates between banks.
Overnight, Asian and US markets were mostly higher, due to improving confidence. Tokyo gained over three percent after Japan’s government signalled a willingness to broaden its bail-out scheme for the country’s biggest banks.
And European shares have risen following a new
move by the French government to bolster its financial sector.
Some 10.5 billion euros will be lent to the country’s top six banks before the end of the year to boost their capital reserves. Today shares in France’s leading banks were showing significant gains.
There has also been a positive response to the Federal Reserve Chairman Ben Bernanke’s support for more government spending to boost the recession-hit United States economy.
Meanwhile, this morning the euro fell to its lowest level in 19 months against the dollar.