FTSE recovers as government plans banking reform
Shares this morning rebounded after yesterday's panic-induced falls.
In London, the FTSE 100 opened 1.8% higher, rising 84.65 points to 4,673 points and soon extended those gains, moving almost 3 per cent higher at 4717.48, up 128.29.
The rise followed yesterday's record 7.8% fall as panic swept global financial markets.
America's Dow Jones industrial average was down to a four-year low after dipping below 10,000 points for the first time since October 2004.
The British Chambers of Commerce that Britain is already in recession and could face a prolonged downturn.
Todya's rebound in London was mirrored in other European market, as France's CAC 40 gained 3.2 per cent, and the Dax in Germany rose by more than 2 per cent.
The Government plans to raise £40 billion of fresh capital along with banking reform legislation in a series of measures due to be outlined today in an effort to calm markets.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
