Shares in Citigroup have jumped by almost 60% as investors welcomed the U.S. government's rescue plan for the bank.

The U.S. Treasury is set to invest $20b (£13.4b) in return for preferred shares in the troubled banking giant.
The Treasury and the Federal Deposit Insurance Corp will also guarantee up to $306b (£205b) of risky loans and securities on Citigroup's books.
""Equity markets have responded positively to the Citigroup news,"" said Neil Mackinnon at ECU Group.
The new plan follows a $25b injection of public funds in the bank last month.
Citigroup's market value fell to $20.5b on Friday, compared with $270b in 2006, as its shares plunged by more than 60% last week. However they rallied by 58% on Monday.
The company has announced 52,000 job losses worldwide, on top of 23,000 job cuts previously announced. It employs around 12,000 people in the UK.
Citigroup has lost more than $20b in the past year because of the global financial crisis, suffering four straight quarterly losses.
Citibank UK deposit holders are covered by the Financial Services Authority. The Financial Services Compensation Scheme guarantees up to £50,000 per Citibank account holder, should the bank go bust.
The action plan was announced after emergency talks over the weekend between the bank and the treasury department, the Federal Reserve and the Federal Deposit Insurance Corp.
We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks
Federal statement Citigroup is one of the leading US banks and has operations in more than 100 countries. Many analysts had calculated that the huge financial institution was too big to allow to fail.
""With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect US taxpayers and the U.S. economy,"" the three agencies said in a statement.
""To stabilize the equity, we had to put behind us the issue of Citigroup's ability to withstand whatever would come,"" the bank's chief financial officer Gary Crittenden said.
The cash injection will come from the $700b financial bail-out fund created last month.
Many analysts believe the plan to rescue Citigroup will help reduce uncertainty in the market.
""We expect the U.S. bailout of Citigroup as well as Obama's promise of a major stimulus plan - with key Democrats suggesting numbers between $500b and $700b, much bigger than expected - to allow stock markets to gain across the globe, "" said Dariusz Kowalczyk at CFC Seymour in Hong Kong.
This proudest of U.S. banks has been humbled: the rescue is about as close to nationalisation as it's possible to get without the state taking 100% ownership.
""We are still cautious on the potential future dilution from further prospective capital raises for the group as well as continued higher losses related to credit and asset deflation,"" he added.
(Source: BBC)