Afternoon Markets: US markets up as China package absorbed

UK stocks continued to rise and US markets opened higher as the news of China's $586bn fiscal packag...

UK stocks continued to rise and US markets opened higher as the news of China’s $586bn fiscal package is absorbed by share prices. Miners were the biggest winners in the FTSE 100 with Wood Group, Xstrata, Anglo American, BHP Billiton and Rio Tinto all rising over 10% ahead of market closing. The FTSE itself rose just under 2% today, the second day of gains. Losers of the day included consumer stocks such as Tesco (-5.3%) and Burberry (-4.74%). Overnight it was announced China would be joining the UK and US governments by lowering interest rates and injecting cash to avoid recession. ...