UK banks rise on financial services Brexit deal news

Sterling also rallying

Tom Eckett
clock • 2 min read

UK bank stocks have jumped in Thursday morning trading, following reports Prime Minister Theresa May has secured a financial services deal with the European Union.

News the EU will allow passporting for UK financial services firms has caused UK banks' share prices to rise, with Lloyds jumping 2.6% to 59p, while Barclays and RBS rose 2.5% to £1.77 and 4.2% to £2.46, respectively. The jump in shares came after a report in The Times said negotiators in Brussels had reached an agreement on all aspects of partnership on financial services, as well as on the exchange of data. Following progress in the Brexit talks, sterling has also been on the march, climbing 0.3% to €1.1316 against the euro by mid-morning, while it is up 0.9% against the Japanese ye...

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