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Global stock markets rise
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.
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