Markets Rise Ahead Of Key US Vote [October 01 2008]

World markets have risen through the day ahead of tonight's crucial Senate vote on the Wall Street bail-out plan. The FTSE 100 index of top shares rose 1.5%, and there were slight gains in Asia. US Presidential candidates Barack Obama and John McCain are returning to Washington ahead of the vote on the $700bn deal. If the bail-out package passes the Senate, it will put more pressure on the lower House of Representatives to follow suit when it meets again on Thursday.

George Bush's bail-out proposal was rejected by the House on Monday in a move that sent shockwaves through the world markets and threatened to put Wall St into meltdown. But in a surprise move, Senate leaders have agreed to add tax breaks for businesses and the middle class.

Guarantees on savings will also rise from $100,000 to $250,000, providing increased protection for savers - a move proposed by Mr Obama and backed by Mr McCain.