FTSE set for weekly rise

FTSE set for weekly rise


Britain’s top share index climbed on Friday as regulatory pressure eased on the banks of the nation, placing course for a weekly rise with the index.

Banks increased after the financial regulator in Britain said it intended to visit a two-year deadline to file for compensation for loan insurance that was missold, drawing a line under the most costly consumer finance scandal in Britain.

The FTSE has now increased for three straight session, although it posted its largest quarterly drop in the 3rd quarter, which finished on Wednesday.

The gains were broad based, with just six stocks dropping.

A data breach that exposed the personal advice of some 15 million individuals who applied for service with T-Mobile US Inc was revealed by the firm.

“Certainly a violation of the magnitude is a significant drawback, particularly to an organization that takes data security quite seriously … Experian’s company is the fact that of managing data, making this incident especially embarrassing,” analysts at Barclays said in a note.

“TMobile is clearly reviewing its association with Experian. In T-Mobile the loss of a single customer is rather immaterial but if it activates other report reviews, it may be important.”