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News that Gordon Brown met the French president and the European commission on Monday has rather upset the German government who were left out of the talks. The talks were aimed at finding a...
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Investments News - Last Updated Monday 22nd December 2008 Syndicate this
Can Barack Obama save the day?

Monday 22nd December 2008

News that incoming US president Barack Obama is set to spend hundreds of billions of dollars creating 2.5 million employment positions in US public works has been well received by both the US and UK stock markets. There was also a suggestion of a �61 billion bailout of the US car industry which has been struggling for some time amid suggestions that leader Ford only has sufficient funding to last to the end of 2008.

The FTSE 100 today rose by 6.19% which is one of the highest one-day increases in the history of the London stock market. There are hopes that the incoming president will be able to cut short the expected US recession which should then filter through into the worldwide economy. There is no doubt that Obama has made great strides even though he is yet to take up office and has already nurtured something of a fan base around the world.

Many observers are pleasantly surprised at the speed at which he has introduced his plans to the marketplace and the commonsense approach which he appears to be taking. Much of the initial scepticism that the appointment of Obama appears to be lifting and it looks as though we may have a proactive rather than reactive US president coming into power.

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