reportonbusiness.com: Market Action

Posted AT 6:54 AM EST on 18/09/08

Global stocks rally on central bank action

NATSUKO WAKI

Reuters

LONDON — The cost of borrowing dollars short-term tumbled and world stocks rallied on Thursday after leading central banks unveiled concerted action to free up money markets jammed by banking sector strife. A $21.7-billion (U.S.) deal by British bank Lloyds TSB to buy HBOS to prevent another U.K. victim of the global credit crisis also helped ease investor jitters after U.S. stocks hit a three-year low on Wednesday.

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TSX
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Market	Change	Value
Data delayed 15 minutes
S&P/TSX	-78.40	8,327.81
DJIA	+270.00	8,419.09
S&P 500	+32.60	848.81
Nasdaq	+51.73	1,449.80

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