Morgan Stanley predicted that European banks would do better than their American counterparts in coming months Matt Crossick / PAMorgan Stanley helped to boost shares in Barclays after predicting that European banks would fare better than their Wall Street rivals over the coming months. Expectations of another US interest rate rise this year lifted financial stocks across the board, with Royal Bank of Scotland rising 4¼p to 260½p and Lloyds Banking Group gaining half a penny to 66¼p. Barclays led the way, however, advancing 5p to 260½p after the comments by analysts at the US bank. Noting that JP Morgan and Bank of America have indicated that trading revenues could be down between 15 per cent and 20 per cent in the third quarter, Morgan Stanley told clients: “Looking at volumes, equities are strongest in Asia, weakest in the US, with Europe somewhat in…

Source: The Times September 21, 2017 11:03 UTC