UK Banks RBS, Barclays and Lloyds see stocks rise

A handful of UK banks have seen their stocks rise for the first time in four days, following speculation that the UK government will help to revive the global economy. Three of the UKs main banks, Royal Bank of Scotland Group plc, (NYSE:RBS), Barclays PLC (NYSE:BCS) and Lloyds TSB Group plc (NYSE:LYG) all saw increase in stocks.

RBS who are now facing the biggest loss in British history say their stocks have jump by 13 per cent, this was thanks to a pledge from Barack Obama’s nominee treasury secretary, Timothy Geithner that he will be expanding their prolonged role in helping to stabilize banks.

Royal Bank of Scotland shares rose by 13% to 14.1 pence; Barclays Plc who turned down government help gained 6.8 per cent to 70.6 pence, and Lloyds Banking Group Plc increased by 15 per cent to 51.7 pence.

Since Geithner’s pledge to help expand and prolong U.S. Government help, the FTSE All-Share Banks Index rose 4 percent. Geithner plans to help stabilize banks, this will in turn help ensure credit for those all-important small business.

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