Stock markets around the world roared their approval on Friday, staging huge rallies as the US authorities moved towards agreement on a programme of government intervention that would put hundreds of billions of dollars of taxpayers’ money at risk in an effort to quell the credit crisis. Shanghai surged 9.5 per cent, in the biggest daily gain for seven years, to 2,075.091. Hong Kong ’s Hang Seng gained 9.6 per cent to 19,327.73, breaking a seven-day losing streak. In London the FTSE 100 had its biggest daily gain in its 24-year history, jumping 8.8 per cent, while in New York...
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