European stocks started to rise after Qatar announced an intention to save shares in Credit Suisse Group. Investors supposed that two UK-based banks might boost their dividends, which also led to the rise of European stocks on the market.
Barclays Plc and Lloyds TSB Group Plc gained more than three percent in London when it became known that they would raise their dividends. The world’s largest steelmaker, ArcelorMittal, advanced in Amsterdam after three biggest producers of steel in Asia agreed to raise prices on iron-ore.
The Credit Suisse Group is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. Credit Suisse was founded in 1856 under the name Schweizerische Kreditanstalt. The bank is organized into three divisions, Investment Banking, Private Banking, and Asset Management. Shared Services, which includes functions such as IT and legal/compliance, encompasses all three major areas.
Barclays PLC is the 18th largest company in the world according to Forbes Global 2000 rankings (2007 list). Barclays PLC is the 4th largest financial services provider in the world by Tier 1 capital ($32.5 billion), and the 15th largest in the banking industry by market capitalization ($94.79 billion). It is the third largest bank in the United Kingdom based on market capitalization.
The bank's headquarters are at One Churchill Place in Canary Wharf, in London's Docklands, having moved there in May 2005 from Lombard Street in the City of London.
Lloyds TSB Group plc is a leading financial institution with a London based head office and operations that span the globe including the US, Europe, Middle East and Asia. Its individual business units provide an extensive range of financial products and services, both in the United Kingdom and overseas. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London.
Lloyds TSB is currently the fifth largest banking group in the UK, operating in England and Wales as Lloyds TSB; and in Scotland as Lloyds TSB Scotland. Its other subsidiaries include the mortgage bank Cheltenham and Gloucester; life assurance company Scottish Widows; and finance house Blackhorse.
A Russian patrol ship in the Black Sea opened warning fire at British destroyer the Defender, whereas a Su-24M aircraft dropped a bomb on her course