Banks rise after regulators say banks will be given more time to build up their cash reserves
City Index January 7, 2013 5:53 PM
<p>- The FTSE 100 is seen opening slightly lower at 6078 this morning despite gains across the banking sector after international regulators announced they were […]</p>
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- The FTSE 100 is seen opening slightly lower at 6078 this morning despite gains across the banking sector after international regulators announced they were giving banks more time to build up their cash reserves.
- As a result of this positive news, Barclays shares were up 2.2% and Lloyds following closely with 1.8%.
- Supermarket Morrison’s rose 1.1% despite reporting a 2.5% fall in sales over Christmas, which was a disappointment. Morrison’s said that its full-year results were still expected to meet previous forecasts. The coming week will give further evidence of how well supermarkets performed over the festive holidays, with Sainsbury’s due to give an update on Wednesday and Tesco realising figures on Thursday.
- No important British economic data is due to be realised today, with the week’s main focus on the latest monthly Bank of England monetary policy decision due at 12noon on Thursday, although no changes are expected to be made to the current record low UK interest rates or Central bank’s asset buying programme, Investors will be sitting tight until then.
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