Business Spectator – European shares jumped for a fifth straight session on Monday, led higher by financials, as investor sentiment improved following further assurances over the health of the US banking sector.

At 0948 GMT, the FTSEurofirst 300 index of top shares was up 2.3 per cent at 718.41 points, extending the previous session’s gain of 0.8 per cent. But it is still down 14 per cent this year after plunging 45 per cent in 2008.

The broader STOXX 600 was up 2.1 per cent at 172.15 points, with banks and insurers topping the gainers list.

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KEZI – Most Asian stock markets recovered Monday after last week’s historic sell-off as governments around the world intensified efforts to boost the ailing financial system.

Hong Kong’s Hang Seng Index, which tumbled more than 7 percent Friday, opened over 2 percent but shed its gains to trade about 360.50 points higher, or 2.44 percent, at 15,157.37.

In Australia, the S&P/ASX200 index was up 4 percent in response to a government plan to guarantee bank and other lender deposits for three years. The benchmark plunged over 8 percent on Friday, its biggest single-day fall ever.

South Korea’s benchmark gained more than 2 percent and Singapore’s key stock measure was up about 1 percent. But China’s key Shanghai index traded 2 percent lower, while Taiwan’s benchmark lost more than 3 percent.

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