Business Services Industry
Daily Mail, London, Market Report.
Knight Ridder/Tribune Business News, November, 2002
By Geoff Foster, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 5--The week got off to a cracking start as a wave of interest rate optimism swept dealing rooms. Buyers lit the fuse and the Footsie rocketed 144.5 points to 4141.5.
Convinced the Fed will tomorrow lower US rates by a further 1/4 percent to 1 1/2 percent to reduce the risk of economic relapse and the Bank of England will then shave UK rates by the same amount on Thursday, bears hurriedly closed their short trading positions. Bulls then provided the fireworks.
Wall Street was also celebrating Friday's Federal court ruling that endorsed a settlement of the anti-trust row between computer giant Microsoft and the U.S. government.
Nasdaq soared 59 points...
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