U.K. Banks Rise After Central Bank Unveils Emergency Aid
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Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc rose after the U.K. central bank said it would provide billions of pounds of cheap emergency aid to shore up British lenders as Europe’s debt crisis worsens.
RBS surged 7.9 percent to 247.6 pence in London trading, the most in almost five months, while Lloyds climbed 5.2 percent. The companies are Britain’s two-biggest taxpayer-assisted lenders. Barclays Plc and HSBC Holdings Plc also gained, while the pan-European, 43-member Bloomberg Europe Banks and Financial Services Index rose 2.1 percent.