European banks lead stock rally


	European banks lead stock rally

JICWyllie

4-18-2008 1:32 PM

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tags:

economy, financial markets, i-investment, i-opportunity

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/89350a44-1cdb-4c10-abab-64d723bc4a8c/CC96A809-24E3-44DE-BA9E-899F8F50C852/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/fe787650-0d1c-11dd-b90a-0000779fd2ac.html" href="http://www.ft.com/cms/s/0/fe787650-0d1c-11dd-b90a-0000779fd2ac.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/fe787650-0d1c-11dd-b90a-0000779fd2ac.html">European banks rallied strongly on speculation the sector was increasing efforts to shore up balance sheets after Citigroup in the US announced huge costs cuts, while Britain’s RBS was expected to announce a rights issue.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/fe787650-0d1c-11dd-b90a-0000779fd2ac.html"><B><A href="http://markets.ft.com/tearsheets/performance.asp?s=us:C" symbol="us:C">Citigroup </A></B>reported a first-quarter loss of $5.1bn thanks to writedowns on leveraged loans. Although the numbers missed most Wall Street forecasts, US equity futures rose, indicating investors were pleased the results were not worse.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/fe787650-0d1c-11dd-b90a-0000779fd2ac.html">In the UK, <B><A href="http://markets.ft.com/tearsheets/performance.asp?s=uk:RBS" symbol="uk:RBS">Royal Bank of Scotland </A></B>shares were up nearly 5 per cent, as investors welcomed news of a possible capital raising. Such a move would help rebuild RBS’s capital reserves after the purchase last year of a third of Dutch rival ABN Amro.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/CC96A809-24E3-44DE-BA9E-899F8F50C852/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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