Lloyds Banking Group PLC (LON: LLOY) aims higher as Barclays PLC (LON: BARC) pays a fine

Lloyds and Barclays go up

In brief: Lloyds Banking Group PLC (LON: LLOY) and Barclays PLC (LON: BARC) shares rise in price against the British banking sector stability.

Lloyds Banking Group PLC (LON: LLOY) rises to 70.07 points, gaining +0.66 (0.95%) at the beginning of the UK stock market trading today. Barclays PLC (LON: BARC) shares rose in price up to 320.15 points, increased by 0.58%.

At the same time, U.S. authorities fined one of the leading British bank Barclays for 298 million dollars for violating international sanctions, prohibiting the transfer of funds in financial institutions of Cuba, Iran, Libya, Sudan and Burma. According to recent data, from 1995 to 2006 New York Section Barclays transferred 500 million dollars to the banks of those countries. For the same reason were fined lenders Lloyds TSB and Credit Suisse. Lloyds TSB has agreed to pay $ 350 million in January 2009 for the transaction.

Anrey Torbinski
2010-08-17 09:08, Economics.

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