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Banks back into favour after BNP Paribas reveals plan to repay loan.

Publication: The Evening Standard (London, England)
Publication Date: 29-SEP-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Banks back into favour after BNP Paribas reveals plan to repay loan.(Business)

Article Excerpt
Byline: Rosamund Urwin MARKET ROUND-UP

BANKS were back on investors' buy lists today after French giant BNP Paribas announced it is paying back its government ahead of schedule.

BNP is tapping investors for [euro]4.3 billion ([pounds sterling]3.9 million) to escape from the French government's clutches, raising hopes that the entire European banking sector is on the road to recovery. Sentiment was improved by relatively upbeat comments from bank bosses John Varley of Barclays and Stephen Hester of Royal Bank of Scotland at Bank of America Merrill Lynch's insurance and banking conference in London today. RBS jumped 1.2p to 52.9p, Barclays was 73/4p better at 3723/4p and Lloyds Banking Group put on...

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