Afternoon markets: Banks buoy the FTSE

clock • 1 min read

The FTSE has risen by 0.5%, or 27.8 points to 5342.92 today, buoyed by unexpectedly cheery news for banks.

Lloyds Banking Group rose by 3.4% to 53.5p after analysts Bloomberg polled said they expected a £1.6bn second half net loss, down from £6.9bn for the same period in 2008, when Lloyds reports on Friday. HSBC rose by 2.4%, to 717.8p. There was news today it may not increase chief executive Ben Geoghegan's base salary by up to 40%, to £1.5m this year. Managers at rivals Barclays, Royal Bank of Scotland and Lloyds have already shunned increases.Save and publish Cruise ship operator Carnival also rose, by 3.5% to £24.29 after announcing a 5% price increase, from March, for summer cruise...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Event Voice: Stepping out of cash into the Credit Sweet Spot

Event Voice: Stepping out of cash into the Credit Sweet Spot

Peter Marsland, Fixed Income Investment Specialist, from Aberdeen discusses the Short Dated Enhanced Income Fund at the June Fixed Income Market Focus.

Peter Marsland, Fixed Income Investment Specialist
clock 08 July 2025 • 4 min read
Investors undergo 'buyers' strike' in June sending order values to two year low

Investors undergo 'buyers' strike' in June sending order values to two year low

Middle East conflict did not deter investors

Eve Maddock-Jones
clock 08 July 2025 • 2 min read
The big questions around re-evaluating risk for the retail investment industry

The big questions around re-evaluating risk for the retail investment industry

Discussions at Global Investment Management Summit

Katrina Lloyd
clock 08 July 2025 • 8 min read
Trustpilot