Domestic Banks Help Britain’s FTSE Edge Ahead

Domestic Banks Help Britain’s FTSE Edge Ahead

Britain’s top share index inched up on Tuesday after finding support in gains among domestic banks Royal Bank of Scotland and Lloyds following a broker upgrade on hopes of a softer exit from the European Union.

Britain’s blue-chip FTSE 100 index was up 0.1 percent at 7,515.39 points by 0854 GMT, while the more domestically-focused mid-cap index added 0.2 percent, boosted by some well-received earnings updates.

After hitting record highs in May thanks to the weakness in the pound that followed Britain’s decision to leave the EU, the rally in the FTSE has lost steam as sterling strengthened and the Bank of England turned more hawkish. Read More…

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