Bernanke’s call for further action helps rally US and European markets

HAVING shed 1.4% on Friday the Dow Jones Industrial Average was up more than 2% in early trading paving the way for a strong rally in European stocks.

Comments from US Federal Reserve chairman Ben Bernanke calling for another economic stimulus plan to boost the US economy also helped lift the various indices, analysts said.

The Fed boss said Congress “should consider including measures to help improve access to credit by consumers, home buyers, businesses and other borrowers,” in testimony to the House Budget Committee. “Such actions might be particularly effective at promoting economic growth and job creation,” he said.