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UK bank stocks buoyed by BoE capital report

Wed, 27th Mar 2013 09:52

LONDON, March 27 (Reuters) - UK banking stocks were boostedon Wednesday after a Bank of England committee said they mustraise a further 25 billion pounds ($37.89 billion) to helpabsorb possible future losses, at the low end of the forecastedrange.

The sector, down 0.3 percent before theannouncement, reversed those early losses to trade up 0.7percent to an intraday high on the news.

Lloyds Banking Group led gainers, up 1.9 percent,enough to make it the second-top riser on the blue-chip FTSE 100.($1 = 0.6599 British pounds) (Reporting by Simon Jessop, Editing by Alistair Smout)

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