FTSE up almost 40 points

The run of good news for British banking stocks continued today after the sector appeared to win a favourable settlement on bank capital standards.

FTSE up almost 40 points
Tue, 27 Jul, 2010 - 12:26

The run of good news for British banking stocks continued today after the sector appeared to win a favourable settlement on bank capital standards.

Barclays jumped 8% and Lloyds and Royal Bank of Scotland rose 6% and 4% by noon respectively after Basel 3 regulatory proposals were watered down last night, reducing the pressure to raise significant amounts of new capital.

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