Shares rise as Wall St regains faith

AN EBULLIENT start to trading on Wall Street coupled with growing hopes that Japan may have the makings of a solution to its banking crisis saw London shares rise by GBP 31 billion in value by the afternoon.

The Dow Jones index of leading shares was up 130 points to 8030.31, a rise of 1.66 per cent in the first half-hour of trading, and the FT-SE 100 climbed 161.1 points to 4984.6.

On the foreign exchanges the pound weakened against the dollar and the deutschmark, giving fresh hopes for exporters.

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