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Money News

US shares fall in opening trading
US shares have fallen in early trading ahead of a key vote in the US Senate on a revised version of the $700bn (380bn) bank rescue plan
 UNITED STATES OF AMERICA , 1-October-2008  6:53:49 AM
Despite hopes that enough changes have been made to get the bill passed, investors remain nervous.

If the Senate does approve the bill it will still have to go to the House of Representatives, which voted against the first version on Monday.

Wall Street's main Dow Jones index was down 119 points in initial exchanges.

In Europe shares were mixed, with the UK's FTSE 100 rising while Germany's Dax fell.

Mixed picture

As the Senate prepares for the crucial vote, the markets have reacted as follows:

Dow Jones down 119 points or 1.1% to 10,732 in early trading on Wall Street

Nasdaq down 20 points or 1% to 2,073

The UK's FTSE 100 was up 77 points, or 1.6%, at 4,977 in afternoon trading in London

Germany's Dax was down 22 points, or 0.4%, at 5,809, although the fall was intensified by carmaker Daimler dropping 4.5% on fears of a profit warning

France's Cac 40 was down six points, or 0.15%, at 4,026, after earlier posting minor falls

Earlier on Wednesday, Japan's Nikkei index had ended up 1%, while Australia's main index closed up 4%

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Posted By : Desi


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