By Stephen Nakrosis
The American depository receipts of several large U.K. banks trading in the U.S. are trading higher on Friday, following Thursday's resounding election victory for U.K. Prime Minister Boris Johnson and his Conservative Party.
Thursday's election victory is seen as moving the U.K. closer to an exit from the European Union.
The FTSE 100 was trading about 1.14% higher and the pound was trading 1.28% higher around 11:30 a.m. EST.
At 11:32 a.m. EST, the ADRs of Royal Bank of Scotland Group PLC (RBS) had gained 9.17% on the New York Stock Exchange, to trade at $6.72. Volume topped 3.3 million shares, above the 65-day moving average of some 1.6 million.
Lloyd's Banking Group PLC (LYG) saw its ADRs gain 6.41%, to trade at $3.40. Volume was more than 9.7 million, higher than the 65-day average volume of some 5.6 million.
Barclay's Group PLC (BCS) ADRs were up 6.83%, trading at $9.70. Volume of some 6.1 million topped the 65-day average of some 3.4 million.
HSBC Holding PLC (HSBC) ADRs were up 0.92%, to $38.28.
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