LONDON/NEW YORK, Jan 22: European stocks gained on Tuesday as investors cheered a move by the US Federal Reserve to lower interest rates by 75 basis points and prop up the world’s biggest economy.
And in New York, Wall Street struggled to steady itself, climbing back from an early plunge after the Fed move in hopes of restoring stability to a faltering US economy. The Dow Jones industrials, down 465 points at the start of the session, recovered to a loss of about 145 points.
In terms of national markets, the UK’s FTSE-100 index climbed 2.9 per cent to 5740.10. France’s CAC-40 Index added 2.1 per cent to 4842.54. Germany’s DAX Index lost 0.3 per cent to 6769.47.—Agencies
