Reuters: Hot Stocks: Financials lift Britain's FTSE 100 early on

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Financials lift Britain's FTSE 100 early on Aug 5th 2013, 07:16 LONDON | Mon Aug 5, 2013 3:16am EDT LONDON Aug 5 (Reuters) - Britain's top shares rebounded early on Monday with financial rallying led by Lloyds Banking Group on a report it could soon start paying a dividend, and ahead of results from HSBC. By 0713 GMT, the FTSE 100 was up 27.36 points or 0.4 percent at 6,675.23, having faded away from two-month highs on Friday as profit takers stepped in after weaker than expected U.S. jobs data. State-backed UK lender LLoyds rose 1.8 percent with traders citing a report in the Financial Times in which Chief Executive Antonio Horta-Osorio told potential investors that he expects to see up to 70 percent of the bank's earnings returned to shareholders by 2015. HSBC, Europe's biggest bank, was also set to unveil half-year year results at 0815 GMT. Its profit is set to rise 15 percent to more than $14 billion as a three-year cost cutting plan starts to pay off and lower bad debts compensate for a fall in revenue. (Reporting by David Brett, Editing by Tricia Wright)

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