Banks boost FTSE as Exane upgrades Lloyds
cheap canada goose uk Thorntons tumbles on profit warning
By David Brett
LONDON Dec 21 (Reuters) Banks led Britain top share index higher on Wednesday, canada goose coats echoing strong overnight gains on Wall Street, with Lloyds Banking Group outperforming on the back of a double upgrade from Exane buy canada goose jacket BNP Paribas.
London blue chips rose 28.27 points, or 0.5 percent to uk canada goose outlet 5,447.87 by 0854 GMT, canada goose ca extending the previous session 1.0 cheap Canada Goose percent rise, as the index continued its bounce off the support level canada goose black friday sale of buy canada goose jacket cheap around 5,340 its 100 day moving average but analysts are yet to be convinced of the sustainability of recent gains.
are probably going Canada Goose online to want to see a push back through the 50 day moving average, at 5,450 or so, before they are convinced that this is more than another flash of volatility, Bill McNamara, canada goose uk black friday technical analyst at Charles Stanley, said.
Previously beaten down banks led the risers with Lloyds canada goose factory sale Banking Group up 4.3 percent as Exane BNP Paribas upgraded the canadian goose jacket UK lender to from on valuation grounds.
at 0.4 times 2013 tangible book, the current canada goose clearance share price appears to imply Canada Goose Online little or no franchise value for the business, Exane said in a note.
economic conditions stabilise and Lloyds Banking Group is able to avoid raising capital then valuation of the business starts canada goose store to look highly compelling, it said, adding there is potentially 65 percent upside to the current share price.
That had a positive Canada Goose Parka readacross for the rest of the UK listed banks, with Barclays and Royal Bank of Scotland bouncing more uk canada goose than 3.5 percent canada goose uk shop each.
The sector was also boosted ahead of the European Central Bank first ever offer of three year loans which is expected to draw high demand from banks on Wednesday, easing fears of an impending credit crunch and possibly bolstering bond and money markets.
seems that the ECB tactic of providing Canada Goose sale unlimited 3 year loans to banks is finally having a positive impact on both credit canada goose uk outlet and equity markets, canada goose clearance sale a London based trader said.
has permeated confidence throughout the markets and lowered Italy and Spain borrowing costs to a more manageable level.
With risk appetite back on for canada goose the time being, equities such as integrated oils and miners rallied too.
Lingering concerns Canada Goose Jackets over the outlook, however, blighted the sector after British chocolatier Thorntons, down more than canada goose coats on sale 30 percent, issued a profit canadagoosejacketsalesca warning.
although lacking in Canada Goose Outlet cheer for the retailers, might not be quite as bad as expected despite a significant number of profit warnings, subdued sales following unusually warm autumn weather and heavier discounting, Freddie George, analyst at Seymour Pierce, said.
however, we do not expect to see a Canada Goose Coats On Sale 2008 rebound in sales. We thus remain cautious on the General Retailers and maintain that it is still too early to buy the sector.
The main domestic macroeconomic focus on Wednesday will be on minutes from the December Bank of England MPC meeting, due at 0930 GMT, with UK November public sector borrowing figures also scheduled for release at 0930 GMT.