Stocks rally as Ireland applies for bailout (AFP)
00:09
zhbjzhql
, Posted in
LONDON (AFP) – Shares rallied in opening deals on Monday as investors welcomed news that crisis-hit Ireland has formally applied for a bailout from the European Union and the International Monetary Fund.
The benchmark FTSE 100 index jumped 0.76 percent at 5,776.15 points.
Irish Prime Minister Brian Cowen said Sunday his government had applied for aid from the EU and the IMF. While the amount had not yet been decided, he said it would be less than 100 billion euros (85.6 billion pounds).
The news also boosted the euro, under pressure in recent weeks due to the debt woes of Ireland and other eurozone nations such as Portugal, Spain and Greece, with Athens getting a 110-billion-euro (150-billion-dollar) EU-IMF bailout in May.
You can leave a response, or trackback from your own site.
0 Response to "Stocks rally as Ireland applies for bailout (AFP)"
Post a Comment