After the news that interest rates had been cut by 0.5% shares have mainly increased in Asian and European businesses. The UK’s FTSE 100 saw an increase by 1.3% as banking shares helped push them up. In France the Cac 40 rose by 2% and in Germany the Dax increased by 0.5%.
There was also a rise in financial shares as HBOS was up by 30% and the Royal Bank of Scotland added 15%. However, Japans Nikkei index closed lower after the prime minister had urged more action to try and boost the countries economy.
However, there is still an awful lot of work that needs to be done to try and stop the country fallen into a recession. We all hope that this small glimpse of light will help the economy turn around although I am sure there are still some tough times ahead. Let us know your views on these issues.
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