RBS: Royal Bank Scotland Share Price Outlook London Stock Exchange
After opening today on the London Stock Exchange at 363 the Royal Bank of Scotland Group (RBS) has seen gradual upward movement with a favourable outlook to finish higher by trading day’s end. Trading peaked in the morning hours when share prices reached 366.90. Shares are forecasted to reach a fair portion higher than yesterday’s close at 364.40.
Shares are up significantly following the sharp downturn things took on 16 October when prices fell to 337.70. The stock is currently rated as a hold with some brokers and analysts leaning towards sell on their recommendations.
In recent news the RBS avoided fines earlier this week by blowing the whistle on other financial institutions’ collusion to rig the price of interest rate hedging products. Had it not, the bank would have faced a portion of more than €115m in fines. The four banks found to be colluding were the taxpayer-backed British Bank, JP Morgan, UBS and Credit Suisse, which faced a combined €74m in fines.