FTSE 100 Rises as Banking Sector Concerns Ease -- Market Talk

Dow Jones2023-03-28

0757 GMT - The FTSE 100 rises 0.5% to 7510 points as banking sector worries ease. "The purchase of large chunks of Silicon Valley Bank's assets by First Citizens has steadied nerves but some caution is set to remain about potential repercussions," Hargreaves Lansdown analyst Susannah Streeter writes. "With contagion limited for now, hopes that the debacle will have less of an impact on global growth have ticked up a little." U.K. bank shares including Barclays, Standard Chartered and Natwest rise. Ocado Group gains 1.3% after the online grocer reported higher first-quarter sales and maintained its full-year guidance. United Utilities falls 0.8% after the water supply company said it expects its fiscal 2023 revenue and a performance-related payment to miss guidance.(renae.dyer@wsj.com)

(END) Dow Jones Newswires

March 28, 2023 03:57 ET (07:57 GMT)

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