UK Markets closed

Shares in Hargreaves Lansdown up on UK savings rules change

LONDON, March 19 (Reuters) - Shares in Hargreaves Lansdown (LSE: HL.L - news) bounced back in afternoon trade on Wednesday after UK finance minister George Osborne announced plans to increase the amount of money able to be saved using Individual Savings Accounts (ISAs).

In a speech presenting his annual budget statement to parliament, Osborne said he planned to simplify the ISA structure and increase the tax free annual savings limit to 15,000 pounds($24,900) from July 1.

At 1330 GMT, the stock was trading up 0.8 percent at 1,325.8 pence, after trading at 1,303 points before the announcement. ($1 = 0.6034 British Pounds) (Reporting by Simon Jessop; Editing by Francesco Canepa)