Computer crash hits market rally - News in brief - Evening Standard
       

Computer crash hits market rally

An embarrassing computer failure at the London Stock Exchange (LSE) left City traders unable to cash in on a worldwide stock market boom for much of Monday.

A US government bail-out of mortgage giants Fannie Mae and Freddie Mac triggered early morning gains for the FTSE 100 Index - until links between traders and the exchange were severed from just before 9am.

The LSE managed to restart normal trading in London at 4pm, with the Footsie easing back slightly following the morning's 3.8% rise. It is the longest market stoppage since April 2000.

The market's resumption came well after the opening of Wall Street, when the Dow Jones Industrial Average rose more than 2% as investors welcomed the removal of uncertainty following the mortgage intervention.

News in brief in Pictures

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity