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Banks boost FTSE in early trading | Banks boost FTSE in early trading |
(about 2 hours later) | |
(Noon): Shares in London pushed higher through the morning, by noon the FTSE 100 was up 1.5%, helped by gains for shares in banks. | |
Lloyds Banking Group rose 3% and Barclays was up 2.4% after the banking regulator proposed a deadline for consumers to claim compensation for mis-sold payment protection insurance. | |
But credit checking firm Experian slumped 4.5% after a data theft. | But credit checking firm Experian slumped 4.5% after a data theft. |
Hackers stole data of more than 15 million customers. | |
The information was related to customers of mobile phone firm T-Mobile, which was held by Experian. | |
"Undoubtedly a breach of this magnitude is a major setback, especially to a company that takes data security very seriously ... Experian's business is that of handling data, which makes this incident particularly embarrassing," analysts at Barclays said in a note. | "Undoubtedly a breach of this magnitude is a major setback, especially to a company that takes data security very seriously ... Experian's business is that of handling data, which makes this incident particularly embarrassing," analysts at Barclays said in a note. |
"T-Mobile is obviously reviewing its relationship with Experian. In itself the loss of one client is fairly immaterial but if it triggers other account reviews, it could become more significant." | "T-Mobile is obviously reviewing its relationship with Experian. In itself the loss of one client is fairly immaterial but if it triggers other account reviews, it could become more significant." |
FirstGroup rose 1% after it said trading for the first six months of the year had been in line with expectations. | |
On the currency markets, the pound was a touch higher against the dollar at $1.515 and was up 0.4% against the euro at €1.3577. |