Markets Across The Globe Trade Up

By Stewart Douglas

Stock markets across the world traded up on the day after numerous positive reports from within the US.  On a day in which the Federal Reserve, the President and official figures reported a likelihood of an interest rate cut, markets were brimming with confidence.

After the sub-prime crisis has bogged down market trading over the last few weeks, any sign that bank liquidity could start to improve is good news for investors worldwide.

Trading in London lead the way, with the FTSE 100 performing strong through the day.  Gaining 91.30 points through the day, the FTSE closed at 6303.3 at the bell after a few successive days of growth this week.

In Germany, the DAX 30 was amongst the strongest exchanges across Europe, trading up by 118.23 points to 7638.2 at the close.  Particularly in the wake of record low German investor confidence, trading in Frankfurt over the course of the day has been remarkable.

In Paris, the CAC was up by 70.17 points to 5662.7 by the end of the day, rounding off positive trade throughout markets in Europe.

However, it was American markets that made the greatest impact on world trade today, directly responding to the announcements from the Federal Reserve and President Bush in protection of sub-prime lenders.

In New York, the Dow Jones traded strongly, up 124.05 points over the day to 13362.8.  Meanwhile, the smaller NASDAQ exchange also grew over the course of the day, seeing a 30.2 rise on the start of the morning to 2595.5.

Analysts are predicting markets to continue to perform strongly into the start of trade tomorrow, continuing the upwards momentum achieved towards close today as confidence in the markets is momentarily restored.

However, it remains to be seen whether or not the measures announced today will materialize, and to what extent.