The majority of institutional investors around the world think the $700bn (€487bn) bailout plan rejected by US politicians yesterday would stabilise financial markets, according to research published today.

Out of 905 institutions surveyed by Greenwich Associates, a Boston-based financial consultancy, 561 respondents think the plan would have a good chance of restoring stability to financial markets. Out of 905 respondents in North America, Europe and Asia, 10% were "very confident" about its impact, while 52% were "somewhat confident".