MARKET TALK: UK Banks Jump On Basel 3 Watered-Down Rules

27th Jul 2010 10:05

0905 GMT [Dow Jones] UK banks are sharply higher on news that Basel 3 proposals have been watered down, analysts say. Lloyds Banking (LYG) and Barclays (BCS) particularly gaining from new requirements that will see both being able to recognize some minority interest capital as Tier 1 capital. Credit Suisse says Lloyds could also start paying dividends again, earlier than previously expected, on looser capital definitions. Lloyds +4.4% at 69p; Barclays +6.6% at 336p; Royal Bank of Scotland (RBS) +4.1% at 49p; HSBC Holdings (HBC) +2.1% at 663p; Standard Chartered (STAN.LN) +2.3% at 1893p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 27, 2010 05:05 ET (09:05 GMT)