Lloyds Banking Group plc and HSBC Holdings lose their footing and have collapsed

Lloyds Banking Group plc and HSBC Holdings were unable to hold on to the green zone

In brief: European stock markets sag, the banking sector is losing as Lloyds Banking Group plc goes into the red zone after the adverse reports of European statistics.

Lloyds Banking Group plc is reduced by -0.77 points (-1.21%), approaching the mark of 62.81 points. At the same time, stock trading in Europe closed higher leading indexes, helped by a positive external background, a favorable macro-economic statistics of European countries and corporate news yesterday. Barclays, Lloyds Banking Group and HSBC Holdings went up by 4,62%, 4,21% and 2,66% respectively, while the paper Royal Bank of Scotland have fallen in price on 1,06%.

Quotes of French Societe Generale, BNP Paribas and Credit Agricole also went into the “plus” (5,08%, 4,76% and 5,55% respectively), securities of Deutsche Bank and Commerzbank rose in price by 4.12% and 2,75% respectively. Positive data presented this morning by the National Bureau of Statistics Insee: index of business sentiment in France in July 2010. compared to June of this year increased by 2 points and was 98 points, while analysts had expected that this figure will be 94 points. In addition, some optimistic forecasts of analysts was also a report of the same organization on the level of consumer confidence in France in July 2010. Contrary to expectations, the rate is not decreased and remained at the level of the previous month – minus 39 points. The optimism of investors also contributed to the data on the volume of retail sales in the UK in June 2010. The index increased by 0,7%, while analysts forecast a growth rate of 0,5%. In addition, the statistical agency Eurostat heard reports on the volume of industrial orders in the euro zone in May 2010. The index rose by 3,8% compared with the previous month, while experts expected a decrease of 0,1% on a monthly basis. However, not too favorable macroeconomic news from the United States had no significant influence on the course of the trading session.

Anrey Torbinski
2010-07-23 10:24, Economics.

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