FTSE shares bounce back
18/03/2008 - 08:25:42The UK’s leading shares bounced back from yesterday’s market turmoil today after a late rally on Wall Street cheered investors.
The FTSE 100 Index was 87.9 points higher at 5501.4 – or 1.5% – in early trading amid expectations of interest rate cuts from the US Federal Reserve tonight to combat the growing credit crisis and aid a faltering US economy.
Stock markets have been shaken by the rescue and cut-price sale of US investment bank Bear Stearns, but Wall Street ended a volatile session in positive territory on hopes of the move, which could see US interest rates fall by as much as 1%.
