European and Asian shares rise
Published March 25th, 2008
European and Asian shares have risen strongly in Tuesday trading, boosted by JP Morgan Chase raising its takeover offer for rival US bank Bear Stearns.
Echoing the overnight gains on Wall Street, stocks were further lifted by a surprise rise in US home sales.
The UK’s FTSE 100 index was up 3.25%, or 178 points, to 5,674 in early trade, while Japan’s Nikkei earlier added 2%.
JP Morgan’s higher offer for troubled Bear Stearns has eased fears about the extent of woes in the banking sector.
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