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>
The video cannot be shown at the moment. Please try again later.
- 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.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.