Barclays Share News (BARC)

Upbeat comments from Fitch and changes in accounting standards gave the UK-listed banking sector a boost on Thursday.HSBC was the standout performer in afternoon trade, rising 2.4%, while Barclays and RBS rose over 1%.Ratings agency Fitch said that so-called Viability Ratings (VRs) on banks in European developed markets have improved since the start of 2014, "indicating early signs of recovery in European banks' intrinsic creditworthiness". VRs reflect Fitch's opinion on the likelihood that an entity will fail.Improving macroeconomic conditions were partly responsible for this improved outlook, Fitch said, with banks' restructuring plans having contributed to the "stabilisation" of the Eurozone. For the first time since 2009, no country in the Eurozone is on Fitch's 'Negative Outlook'.Meanwhile, investors were reacting to new accounting standards announced today that will change the way banks recognise losses.The International Accounting Standards Board (IASB) made amendments to IFRS 9 Financial Instruments that moves from an "incurred loss" to an "expected loss" approach. The changes mean that banks will have to recognise credit losses occurred in addition to ones anticipated in the future, ensuring that they have enough of a capital buffer in an effort to reduce risk."The new standard will enhance investor confidence in banks' balance sheets and the financial system as a whole," said IASB Chairman Hans Hoogervorst.Despite the gains across the wider banking sector, StanChart inched lower after having to swat away rumours that Chief Executive Peter Sands or Chairman Sir John Peace might be replaced in light of recent disappointing results. Top performing sectors so far todayBanks 4,379.06 +1.43%Forestry & Paper 11,245.30 +0.97%Electronic & Electrical Equipment 3,836.74 +0.89%Media 6,181.09 +0.76%Life Insurance 7,268.67 +0.53%Bottom performing sectors so far todayOil Equipment, Services & Distribution 23,657.46 -1.93%Electricity 9,563.70 -1.38%General Retailers 2,688.04 -1.14%Technology Hardware & Equipment 1,053.93 -0.86%Construction & Materials 4,009.90 -0.77%BC