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HBOS Shares Rise
02 October 2008
Halifax Bank of Scotland shares closed 21% higher last night after hopes that a rescue takeover by Llyods TSB would go ahead as planned. Lloyds shares also rose by more than 10% as both banks were given support for the takeover deal from Gordon Brown.
Rival bank shares also improved as investors expected approval of a $700billion (£383billion) banking bail-out in theUS. Barclays added 4% and First Direct owner HSBC added 2%.
The FTSE 100 Index finished the day up 1.2%
