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Britain's FTSE rebounds on hopes of fresh Cyprus deal
LONDON, March 20 |
LONDON, March 20 (Reuters) - Britain's top share index gained in early deals on Wednesday, recovering from three days of losses as traders cited optimism that a fresh deal could be struck over a Cyprus bailout.
The FTSE 100 had fallen for three straight sessions for the first time since last November, but investors took solace that a levy on bank deposits proposed for a Cyprus bailout deal seemed to be off the table after lawmakers rejected the deal late on Tuesday.
By 0807 GMT, the FTSE 100 was up 19.55 points, or 0.3 percent, at 6,460.87, with Royal Bank of Scotland, which has significant exposure to the euro zone, the top riser, gaining 2.3 percent. (Reporting by Alistair Smout; Editing by Blaise Robinson)
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