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Global markets rally as confidence returns; ECONOMY TODAY: MARKETS.

STOCK markets moved higher on both sides of the Atlantic yesterday as investor confidence bounced back following recent economic uncertainty. America's Dow Jones Industrial Average rose around 70 points soon after opening as a pick-up in merger and acquisition activity boosted sentiment.

The FTSE 100 Index in London followed suit, up 1.3% after a 66.7 point rise to 5262, marking a welcome return to positive territory after three consecutive sessions in the red.

Miners were in sharp focus in the UK and in Australian markets as investors digested the implications of the country's inconclusive election result over the weekend.

The prospect of a hung parliament caused weakness in the Australian dollar early on, but stocks rallied.
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Date:Aug 24, 2010
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