Shares wobble after bail-out rejection

SHARES across Europe were behaving very erratically today following the US congress rejection of President Bush's rescue package for the banking industry.

SHARES across Europe were behaving very erratically today following the US congress rejection of President Bush's rescue package for the banking industry.

Stock markets fell sharply in early trading, only to recover quickly, before shares lost value again.

At 11am shares in London were slightly down on the overnight close.

There was further gloomy economic news today as ITV News said 429 jobs were set to go as part of a cost-cutting reorganisation and furniture retailer MFI warned up to 100 stores could close as the result of a management buy-out concluded at the weekend.