Financial Times FT.com

Wall St gets a lift from auto industry plan

By Alistair Gray in New York

Published: December 19 2008 13:50 | Last updated: December 19 2008 22:18

Apparently minimal movements for Wall Street stocks masked another wild week, capped on Friday with the long-awaited rescue of the US car industry.

General Motors soared 22.7 per cent to $4.49 on Washington’s move to grant the industry a temporary lifeline under the Troubled Assets Relief Program. Gains for Ford, which had said it did not require cash immediately, were more modest. It finished up 3.9 per cent to $2.95.

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