Banks rallied on Thursday after Barack Obama's nominee treasury secretary, Timothy Geithner, pledged ...
Banks rallied on Thursday after Barack Obama's nominee treasury secretary, Timothy Geithner, pledged the US would step up its bid to stabilise its banking system. Royal Bank of Scotland (RBS) advanced 13% to 14.1p while Lloyds Banking Group and Barclays toasted 15% and 7% gains respectively. Schroders, a frontrunner in bids for stricken asset manager New Star, advanced 13%, while Friends Provident climbed 10%. The moves helped propel the FTSE 100 above 4,150, a 2% gain and the index's highest value since Tuesday morning. BT Group plunged 13% after it revealed Q3 profits at its Global ...
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