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UK banks rise on media report of temporary tax hikes in upcoming budget

By Reuters News

** Shares of London-listed banks rise ahead of the UK budget after Bloomberg News reports that bank tax hikes will be less severe than expected

** Report says Finance Minister John Healey will announce a temporary bank tax increase of less than 8%

** Natwest NWG.L up 2.6%, Lloyds LLOY.L up 2.4% and Barclays BARC.L up 2%

** YTD, NWG was flat, LLOY up ~7% and BARC down ~9%

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