UK banks rise on media report of temporary tax hikes in upcoming budget

Lloyds Banking

Wed 11:06

** Shares of London-listed banks rise ahead of the UK budget after Bloomberg News reports that bank tax hikes will be less severe than expected
** Report says Finance Minister John Healey will announce a temporary bank tax increase of less than 8%
** Natwest NWG.L up 2.6%, Lloyds LLOY.L up 2.4% and Barclays BARC.L up 2%
** YTD, NWG was flat, LLOY up ~7% and BARC down ~9%
     
     

(Reporting by Yamini Kalia in Bengaluru)
((Yamini.Kalia@thomsonreuters.com))