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Evening Standard

Business

City Staff

FTSE 100 Live: FTSE closes up 0.9%, SVB deal allays banking fears, Binance CEO sued by US watchdog

Silicon Valley Bank United States

After news of a buyer for the US arm of the collapsed Silicon Valley Bank, attention is back on financial stocks. The FTSE 100 is making gains, with financial stocks in the lead.

After pressure on Friday on shares in Deutsche Bank, leas than a week after UBS’s government-brokered rescue deal for Credit Suisse, a series of senior politicians voiced confidence in the sector, including the German Chancellor Olaf Scholz.

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