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Stock market initially buoyed by Chinese bailout

The UK stock market initially arose today after news of a £375 billion bailout plan for the Chinese economy. However, on further consideration investors then decided that the figures in question may not be enough to refloat the Chinese are economy.

The situation for the stock market was not helped by the fact that General Motors in the US is currently fighting for survival with suggestions that the group could run out of cash by the end of December. Some analysts covering GM have revisited their stock recommendations with some reducing their price target to zero. The situation in the US was also impacted by news that the AIG bailout is now going to cost the US government $150 billion against initial estimates of $85 billion.

As bailouts continue to emerge in all areas of the world there is a distinct concern that money to fund these rescue bids could well dry up fairly soon. This is partly the reason why Gordon Brown was in the Middle East a few days ago trying to bring on board the wealthy government of the United Arab Emirates. While their funding is required it is not certain as to whether they will actually come on board.

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