Gains for RBS, Lloyds and Barclays
City Index October 19, 2011 3:59 PM
<p>As the FTSE closed down 26 points yesterday, rumours over a deal between France and Germany to increase EFSF have strengthened the fragile confidence of […]</p>
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- As the FTSE closed down 26 points yesterday, rumours over a deal between France and Germany to increase EFSF have strengthened the fragile confidence of traders, leading to a stronger session in the US.
- The Dow Jones closed Up 180 points in the US yesterday. This has meant a stronger start here in Europe today.
- The FTSE is currently Up 60 points at 5470, while the German DAX is Up 76 points and the French Cac is Up 35 points.
- Leading the FTSE higher today are banks, with RBS the biggest gainer so far, up 4.5% while Lloyds is up 3.75%.
- Barclays, Standard Chartered and HSBC are also up between 3% and 1.5% respectively.
- On the downside however, we have GKN, which is down 4.5% as its results failed to impress and concerns on profit margins ensued.
- G4S is also down 2.5% as investors are still unsure over the company’s acquisition of ISS.
- On the macro front, minutes from the last BoE meeting, announced at 9.30am, showed that UK bank rates were unanimously kept the same at 0.5. At 1.30pm (UK time) keep an eye out for US building permits.
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