Markets afternoon briefing

View an online version of this email here.  All times are London time: Wednesday Jan 21 2009 FT.com - Financial Markets News Wall Street stages modest recovery Jan 21 2009 15:33 US stocks managed a modest recovery from the steepest ever inauguration day sell-off as investors hoped the new administration would take decisive action to rescue the financial system Read more » Sterling drops to fresh seven-year low Jan 21 2009 10:45 The pound dropped to a seven-and-a-half year low against the dollar on Wednesday as worries over the UK financial system continued to undermine sterling Read more » Lloyds and Barclays move off day lows Jan 21 2009 15:06 Lloyds and Barclays suffered more heavy losses on Wednesday as fears surrounding the strength of the banks' balance sheet and the threat of nationalisation Read more » Cocoa hits 23-year high Jan 21 2009 12:26 Cocoa prices rose further, supported by the weakness of sterling and concerns about low output in the Ivory Coast Read more » Banking blues drag Europe lower Jan 21 2009 09:46 European equities fell for the tenth time in eleven sessions on Wednesday as investors continued to shun the continent's troubled banks and falling oil prices drove energy shares lower Read more » Asian shares fall on banking worries Jan 21 2009 09:30 Asia-Pacific equities suffered more gloom as investors continued to sell financial stocks with clouds gathering over corporate earnings Read more » Australia extends short selling ban to March Jan 21 2009 08:16 Australia is putting itself at odds with most of the world's leading stock markets as it extends its ban on short selling of financial stocks until March Read more » S Korean GDP growth seen slowing to 0.7% Jan 21 2009 06:43 South Korea's economy will grow just 0.7% this year, the slowest since the Asian financial crisis a decade ago, hit by the deepening global downturn and a drop in exports Read more » ABOUT THIS EMAIL You have received this email because you have signed up for this briefing on FT.com Manage subscriptions | Unsubscribe | Change your email address Change whether you receive this email as HTML or plain text | Forward this email to a friend Privacy policy | Advertise | Contact © Copyright The Financial Times Ltd 2009. "FT" and "Financial Times" are trademarks of the Financial Times. The Financial Times Limited, registered in England and Wales number 227590. Registered office: Number One Southwark Bridge, London SE1 9HL. VAT number GB 278 5371 21.