Monday, January 9, 2012

Britain - Royal Bank of Scotland To Close Cash Equities Unit

Uploaded by on Jan 9, 2012
Bloomberg reports, citing the Times of London that due to small and irregular profits, Royal Bank of Scotland (NYSE:RBS) has plans to close its cash and equities unit.

The Times also notes that the bank hasn't found a buyer for the whole equities unit, Jeffries (NYSE:JEF), Oriel Securities and Numis Corp are interested in buying Hoare Govett, its small corporate equities broking division.

Royal Bank of Scotland is currently below its 50-day moving average (MA) of $6.70 and below its 200-day MA of $9.86.
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LSE - RBS.L 2:56PM 20.32p Down 0.19p

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