FRANKFURT, Oct 14 (Reuters) - European shares extended gains in morning trade on Tuesday as investors cheered for a second day running the government and central bank measures agreed over the weekend to put an end to the financial crisis.
By 0818 GMT, the pan-European FTSEurofirst 300 index was up 5.4 percent at 988.23 points, adding to its strongest one-day percentage rise on record -- 10.1 percent -- on Monday.
U.S. stock markets posted double-digit percentage gains overnight. The United States will announce plans on Tuesday to inject $250 billion into its banks.
The U.S. Treasury is due to unveil its plan at 1230 GMT with about half of the total likely to go to the top nine U.S. banks to get them lending to each other again, people familiar with the plan said.
Oil & gas stocks, thanks to a 3.5 percent rise in the crude oil price to over $84 a barrel, were the top weighted gainers in Europe followed by banks . (Reporting by Peter Starck)
Tuesday, October 14, 2008
European shares extend gains to trade 5 pct higher
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