Wednesday, June 19, 2024

First Republic: Shares rise on Wall Street’s efforts to save bank from collapse

Date:

  • Nick Etcher
  • Economic Correspondent

Image copyright Getty Images

Financial stocks rose after a group of US giants stepped in to save failing First Republic Regional Bank.

Investor fears of a crisis in the banking sector have eased after 11 US banks pumped in $30 billion to save the First Republic.

Recent bank failures in the US have raised concerns about the health of the banking system.

The main British stock index, the FTSE, rose 100A percentage during the initial trade. British banks whose shares rose include Lloyds Bank and Barclays 1.3 percent.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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