China Black and Blue Chip Companies

central bank: The Shanghai stock market gained 5.3%, its biggest gain for eight weeks, to continue a global rally that has ended two weeks of relentless selling leading up to China Black Monday this week, according to The Guardian. Yesterday Britain blue chip companies gained £60bn as the FTSE 100 index climbed 3.6% to 6192. The mood was helped by signals from the US central bank on Wednesday that it was unlikely to raise interest rates if the turmoil continued for much longer. The one-day rise was the sharpest in percentage terms since October 2011. Related:US markets close higher for second day as global economy shakes off losses Figures showed that the US economy had picked up the pace of growth in the three months to the end of June, to an annualised 3.7%. The sharp rise beat economists’ estimates as businesses ramped up investment. European exchanges finished more than 3% higher and at 18.00 BST the Dow Jones in New York was up 2.2% at 16,641. (news.financializer.com). As reported in the news.