Monday, October 13, 2008

World stocks soar

NVDL: So does their nemesis: oil.
clipped from news.yahoo.com
The All Ordinaries Index is shown at the Australian Stock Exchange at Sydney, Monday, Oct. 13, 2008. The Australian share market rebounded strongly in the first 20 minutes of trading with the All Ordinaries index gaining 5 percent in response to a government announcement that it would guarantee all bank and other lender deposits for three years. (AP Photo/Rick Rycroft)

Australian and Singapore indices jumped more than 5 percent, while South Korean and Chinese benchmarks added around 3.7 percent.

Earlier, Hong Kong's Hang Seng Index, which tumbled more than 7 percent Friday, soared 1,515.29 points, or 10.24 percent, to finish at 16,312.16


Oil prices rose, with light, sweet crude for November delivery up $3.33 at $81.03. The contract fell Friday $8.89 to $77.70, the lowest price since Sept. 10, 2007.

Germany's DAX was 309.28 points, or 6.8 percent, higher at 4,853.59, while France's CAC-40 was up 185.07 points, or 5.8 percent, at 3,361.56.

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