U.S. Rate Cut Boosts Global Markets

The UK shares swung firmly back into positive territory following the US Federal Reserve's move to cut the rate at which it lends to commercial banks. The decision, which will help to increase the flow of money in the US financial system, saw London's FTSE 100 jump 3.5% or 205.3 points to 6,064.3. Relief was also felt in Wall Street, where shares opened sharply higher, and elsewhere in Europe. At the close of trade in New York, the Dow Jones ended up 1.82% a 13,079.l.