Worst is Over for UK Banks

The Week: Lloyds, HSBC and Barclays have seen profits, revenues and share prices drop this year. But Morningstar columnist Rodney Hobson thinks the worst is over for the sector

Rodney Hobson 30 October, 2020 | 9:16AM

The Week

Pessimists have found the pot three-quarters empty this week and they still clearly hold sway on stock markets across the world. However, it is pleasing to see the pot is a quarter full in the banking sector. Optimists like me are clinging on.

The fall in the FTSE 100 index to 5,600 points this week was particularly disconcerting. There was a time a few weeks ago when 6,000 looked to have been established as a floor. When that gave way, there was the consolation of believing the index would steady at 5,800 points.

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About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.

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