Markets enjoy timely recovery

MOST international stock markets recovered yesterday to close up for the first time in four days, on the back of news that European banks’ exposure to sovereign debt may be protected by policymakers and positive US economic data.

The latter related to monthly US service sector figures, which showed slow growth but still proved that the country’s economy was on the up in September. In the US, the Nasdaq was up 55.69, or 2.32%, to close unofficially at 2,460.51.

The Dow was up 131.24, or 1.21%, to 10,939.95.