UK banking stocks reportedly dip on budget tax increase
EWU•British banking stocks fell slightly after a report said finance minister John Healey was set to tax banks in his October 28 budget. Barclays, Lloyds and NatWest fell between 0.2% and 1.8% in early trade.
1. Banks fall in early trade
British banking stocks fell slightly on Friday after a report said finance minister John Healey was set to tax banks in his October 28 budget as he seeks to keep deficit reduction plans on track. Analysts have said one option could be raising the 3% surcharge banks pay on profits. Barclays, Lloyds and NatWest fell between 0.2% and 1.8%, while euro zone banks rose 0.9%.
