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Date: Friday 22 Aug 2008

LONDON (ShareCast) - US shares have maintained their buoyancy as investors speculate that troubled investment bank Lehman Brothers could be sold, helping to end the current financial turmoil.

Lehman Brothers has rallied on reports that Korea development Bank is considering making an offer for the investment bank.

Oil prices have eased having risen by over $5 a barrel yesterday. Crude prices are down $2.45 to 118.73 a barrel.

United Airlines and car maker General Motors, both of which depend on affordable oil prices, posted gains.

However, oil stocks such as ConocoPhillips followed the oil price lower.

Across the markets, the Dow Jones is up 135 points to 11,565 with the Nasdaq up 16 points to 2396. The S&P 500 jumped 6 points to 1,284.

Fed chairman Ben Bernanke spoke at the Kansas City Fed’s annual economic symposium and said the financial crisis and high inflation are dragging on the economy.

In other company news, clothes retailer Gap said late Thursday that profits in the last quarter rose 51% versus the same period last year.

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