World stock markets were mostly higher this evening due to increased optimism that the US Congress will eventually approve the rescue plan for the country's financial system.
In Dublin, the ISEQ closed up almost 8% after the Government's decision to guarantee all deposits and borrowings for Irish-owned banks. Anglo Irish Bank jumped 67% to close at €3.84, while Irish Life & Permanent gained 36% to €4.85. Bank of Ireland added 21% to €3.95 and AIB climbed 18% to €5.90. None of the banks, however, regained all of the ground they lost on Monday.
On Wall Street, the Dow Jones is up 272 points at 10,638 while the Nasdaq is 68 points higher at 2,052. Before US markets opened, US President George Bush said the US Congress 'must act' on the government's plan to bail out the financial system.
In London, the FTSE finished up 84 points (1.7%) at 4,902. The Paris CAC rose 2% to 4.032 and Frankfurt's DAX added 0.4% to 5,831.
Most Asian indices closed sharply lower earlier this morning, with Tokyo closing 484 points (4%) down at a three-year low of 11,260.
