Cairo  - While world markets were going up and down on Tuesday, in the wake of US Congress defeat of a 700-billion- dollar plan to ease trouble in the financial industry, the Egyptian stock market was safe from all the turmoil.

It was closed - marking the Eid al-Fitr holiday.

The Egyptian Stock Exchange, along with other Arab bourses, were not open due to the three-day feast holiday, which marks the end of the fasting month of Ramadan.

London - After a wobbly start, the London stock market held its nerve Tuesday with the Financial Times Index up by lunchtime while bank shares were among the biggest fallers in a mixed session.

The FTSE-Index was up by 26.03 points - or 0.54 per cent - to reach 4844.80 points in mid-trading.

Analysts said that after the initial shock about the US failure to adopt the bail-out plan, investors were clearly hopeful that a package would eventually be agreed.

Stockholm  - The main stock exchanges in Europe's Nordic region recovered some ground in late morning trading Tuesday.

Although the Stockholm bourse dropped almost 3 per cent just after opening, continuing Monday's slide, it settled and was almost flat in late morning trading.

The Stockholm index closed at a low of 5.4 per cent on Monday, before the US House of Representatives voted against a 700-billion- dollar rescue plan.

Shares in the four main Swedish banking groups regained territory Tuesday, including Swedbank, which had been hammered Monday.

The benchmark indexes in Copenhagen and Helsinki were also up Tuesday after Monday's losses.

Madrid - The Madrid stock mar

Frankfurt - German stocks eased Tuesday after the US Congress rejected Washington's bail-out plans.

The slide on the Frankfurt Stock Exchange was more moderate that in some other markets, with the bellwether DAX index falling 2 per cent from Monday's close before settling at 5761, down 0.8 per cent.

Bank stocks remained weak, a day after a German mortgage lender, Hypo Real Estate, won a financial lifeline from other banks and the German government.

It was the first German company to need help in the current crisis.

Securities & Exchange Board of India (SEBI) chairman, C B Bhave chilled out the worries of the US financial crisis disturbing Indian stock markets, saying that there was no fear as Stock market regulator was examining the condition very closely.

Within minutes of Bhave’s report, the bourses recovered early losses as the BSE Sensex was ruling at 12,397, down by 197 points.

“There is no need for panic in the market. Our market is resilient. Our clearing system has proved to its ability to deal with stock market fluctuation,” Mr. Bhave said.

Mr. Bhave also said that at present, the conditions regarding short sale are that institutions are permitted to short sell only if they have borrowed the stock on the stock markets.