Global shares extend gains on US stimulus deal

0 Comments | AFP, January, 2008

LONDON, (AFP) — World stock markets rose further on Friday as a quick agreement by US leaders on a stimulus package eased concerns over the fallout from a weakening US economy, dealers said.

As a volatile week drew to a close, the rebound on Asian and European markets picked up steam with key bourses recouping some of the heavy losses sustained over worries of a US recession.

The White House and leaders in the House of Representatives, led by the rival Democratic party, reached a surprisingly quick deal Thursday aimed at shoring up an economy wracked by housing sector turmoil.

Tokyo's benchmark Nikkei-225 index closed up more than four percent, extending gains for a third day, but it was still down 1.68 percent from a week ago and nearly 11 percent since the...