RBS and CitiGroup - The strong relation?

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mattcodes

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Can someone please attempt to explain how that the news that Citigroup won't be nationalised sent RBS sharing soaring?

Reading various Google news link/articles doesn't reveal anything.

I appreciate this a very newb question so even just a pointer in the right direction would be greatly appreciated.
 
any news of huge banks not being nationalised restores investor confidence/sentiment in financial sector stock i suppose.
 
is this a wind up !?

if not...

RBS rallied as the bank is being split into two BU's - effectively hiving off the "toxic" debt - thereby restoring solvency

citigroup are US side...
 
Citigroup usually sends the Dow one way or the other, along with the other closely scrutinised financials by analysts in top firms, when the news is good, the dow usually rockets, this boosts the ftse confidence and especially the banking stocks, if a bank which is effectively doomed, doesn't get nationalised, essentially this injects confidence into the worst of banks...
 
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