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Bucharest Stocks Close Up, On Central Banks' Joint Effort

The Bucharest bourse closed Wednesday on an upward trend, following news that the U.S. Federal Reserve is coordinating a joint effort by the world's largest central banks to ease the liquidity crisis.

Andrei Cîrchelan · 30 noiembrie 2011 · 1 min de citit

The U.S. Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank announced coordinated actions to ease the strains in financial markets, by making US dollar funding cheaper for European banks.

Following the announcement, exchanges all over the world soared, with European markets rising around 4%, while the main Wall Street indexes were up more than 3%.

The Bucharest Stock Exchange’s composite index BET-C closed up 1.06% to 2,585.64, after struggling around par throughout most of the session, while the main index BET gained 1.28% on the day to 4,245.33.

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