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Banks help FTSE rises to two-month closing high on easier rules 

January 14, 2014
Francesco Canepa, Reuters

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.

Supermarket WM Morrison was the top FTSE gainer on speculation it may sell some property and return some of the proceeds to shareholders, while oil and gas engineering firm Amec was boosted by an expansionary deal to buy rival Foster Wheeler

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.

Read more: Reuters

 
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