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Banks Help Ftse Rise

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A rally in banking shares helped Britain's FTSE 100 rise to a two-month closing high on Monday as investors welcomed the prospect of lighter rules on leverage for the sector.

Banks rallied after regulators, seeking to keep the global economy financed, watered down the rules for calculating how much capital a bank must hold against its loans and other assets.

"It's all about the banks. The relaxing of the regulations is really improving investor sentiment in the sector," said Jonathan Roy, a broker at London Stone Securities.

Banks added 9.2 points to the FTSE 100, which rose 17.21 points, or 0.3 percent, to 6,757.15 points, its highest closing level since November 7.

Barclays rose 2.9 percent, Royal Bank of Scotland was up 3.1 percent and Lloyds up 1.2 percent.

linky

The move to adjust the ‘leverage ratio’ by the Basel Committee on Banking Supervision at a meeting in Switzerland on Sunday comes after intense lobbying from bankers.

linky2

Champagne all round!

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linky

linky2

Champagne all round!

yep we should have thread to help our Government come up with new ideas to make them even richer and help reward Mps in their new reward roles when they lose their seats next year.

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