GBP Construction PMI 51.0 51.3 50.8

GBP 10-y Bond Auction 2.58|1.8 2.37|1.5

FTSE100 firmly lower at midday as financials suffer

USD Factory Orders m/m 2.1% 2.0% 1.0%

USD IBD/TIPP Economic Optimism 47.1 49.3 49.0

BoE snubs banks to press on with capital rule

LONDON | Tue Jul 2, 2013 3:27pm BST
(Reuters) - Bank of England policymakers said on Tuesday they would press ahead quickly with a new curb on banks' risk exposure and would not be deflected by industry lobbying against the plan.

Paul Tucker, the central bank's deputy governor for financial stability, told British lawmakers that the new rule, which would require UK banks to meet a limit on lending as a proportion of their capital, should be introduced now.

FTSE100 pares early losses after strong afternoon rally