Wall Street stages huge rally after bank aid

Wall Street surged Monday as investors rushed into stocks after eight sessions of devastating losses, hoping that the stock market is finding some footing.

 Markets cheer as Europe bails out banks (Reuters)

Reuters - Stock markets rejoiced after governments worldwide launched multibillion-dollar bailouts on Monday to shore up banks, and Britain called for a new Bretton Woods agreement to reshape the world financial system.

 Morgan Stanley-MUFG deal closes, Morgan shares soar (Reuters)

Reuters - Mitsubishi UFJ Financial Group Inc (MUFG) completed its purchase of a stake in Morgan Stanley on Monday with U.S. government support, helping close a deal that investors had feared would fall apart.

 Market jumps on bank rescue optimism, Morgan (Reuters)

Reuters - Stocks soared on Monday as a global push by governments to pump cash into banks fueled a rebound in financial shares and credit markets showed some signs of loosening up.

 Santander eyes Sovereign in hunt for bargains (Reuters)

Reuters - Spain's Santander said it was in talks to acquire Sovereign Bancorp Inc on Monday, as the euro zone's largest bank hunted for bargains in a sector that has been hit by the global financial crisis.