Shares up 10% on crisis measures

Shares have rallied worldwide after the US government bailed out ailing bank Citigroup and Britain announced a massive economic stimulus package.

London's FTSE 100 soared 9.84% to reach 4,153 points - the biggest percentage gain in its history.

In Paris, the Cac 40 index jumped 10.1% and in Frankfurt the DAX advanced 10.3%.

On Wall Street, the key Dow Jones added almost 5% and the Nasdaq indexes gained 6%, extending the rally seen on Friday.

Shares in Citigroup have jumped by almost 60% as investors welcomed the US government's rescue plan for the bank.

The US Treasury is set to invest $20bn (£13.4bn) in return for preferred shares in the troubled banking giant.

In Britain, the government has temporarily cut VAT from 17.5% to 15% as part of an £20bn package aimed at kick-starting the economy.

Energy stocks also got a boost as the price of crude oil surged towards $55 a barrel.

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