Lloyds Banking Group Plc (ADR) (NYSE: LYG), a provider of banking and financial services to personal and corporate customers mainly in the U.K., is up sharply in mid-day trading today, extending its gains for the week.
LYG has been gaining momentum this week after the Basel Committee on Banking Supervision relaxed several tough liquidity requirements and postponed several new banking regulations by an additional four years. This came as a huge relief to European banks, including LYG.
At last check, LYG was trading 3.15% higher at $3.43 on volume of 4 million, which is nearly two times the daily average volume of 2.01 million. LYG has gained more than 5.5% this week.
Rite Aid Corporation (NYSE: RAD), a retail drugstore chain in the U.S., is up sharply in mid-day trading today, reversing some of the losses from Monday. RAD had fallen more than 5% on Monday. However, RAD recovered on Tuesday, gaining more than 3%. In today’s trading, RAD is up 2.26% to $1.36 on volume of 7.81 million, which is a little over a half of the daily average volume of 13.75 million.
RAD currently faces resistance at around $1.40. If the stock breaks through this level then the next resistance level will be at $1.45.
Last week, RAD had reported 2.2% decrease in same-store sales for the month of December.
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