Who will save the banks: Lloyds Banking Group PLC (LON: LLOY) and Barclays PLC (LON: BARC) glide

Bulls lose power

In brief: Bears dominate the European markets. Lloyds Banking Group PLC (LON: LLOY) and Barclays PLC (LON: BARC) continue to bargain in the red zone.

Lloyds Banking Group PLC (LON: LLOY) is reduced to 69.64 points, losing -0.45 (-0.64%) in early trading. Another British bank – Barclays PLC (LON: BARC) dropped to 315.80 points, down -3.60 (-1.13%). Bearish trend came to Europe from the U.S..

Recent data have left a large oily stain on the future path of the U.S. economy, that is trying to gain traction. Rising unemployment and lower orders – these are the conditions for slipping, but not for acceleration. All published on Thursday, data were disappointing in contrast to the July data, which showed a slight improvement. If this trend is sustained, it would mean that the fear in financial markets persist.

Dmitriy Srebnev
2010-08-20 10:19, Economics.

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