Eu­ro­pean share mar­kets have jumped af­ter the US Fed­er­al Re­serve moved to kick-start re­cov­ery by pump­ing more mon­ey in­to the econ­o­my. It fol­lowed the Fed's de­ci­sion on Thurs­day to in­ject US$40 bil­lion a month in­to the US econ­o­my. Unit­ed King­dom, Ger­man and French stocks closed up two per cent, while Wall Street opened high­er. But fears over the glob­al econ­o­my per­sist­ed as the In­ter­na­tion­al Mon­e­tary Fund and Eu­ro­pean Cen­tral Bank de­nied they were in bailout talks with Spain.

Eu­rogroup fi­nance min­is­ters are meet­ing in Nicosia in Cyprus for talks on mea­sures to end the cur­rent eu­ro­zone debt cri­sis. On Fri­day, Jean-Claude Junck­er, head of the Eu­rogroup, an­nounced that the new eu­ro­zone res­cue fund would be up and run­ning by the end of Oc­to­ber.

BBC