Afternoon Markets: Dow Jones follows European recovery

On Wall Street, the Dow Jones followed gains in stock markets across Europe.

The blue chip index climbed 77.31 points (0.88%) to 8,821.25 after the Government confirmed a $3bn rescue package for the troubled CIT bank. Alcoa shares were boosted by increasing metal prices, up 3.13% to $10.54, while Caterpillar benefited from signs of recovery in the construction sector, adding 6.8% to $36.30. Bank of America shares fell back further after Friday's losses, down 3.03% to $12.50. The FTSE 100 continued to rise this afternoon, with miners and financials driving share prices. The main London index climbed 57.35 points (1.31%) to 4,446.1. Kazakhmys was the bi...