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Banks lead FTSE higher

The FTSE 100 opened at 4,468 with equities pushing higher on the back of robust earnings announcements.

By 9.27am, the index was up 1.0 per cent to 4,490 with financials amongst the strong gainers.

Barclays was 2.8 per cent higher at 288.50, Royal Bank of Scotland gained 6.1 per cent to 43.80p and Lloyds was up 5.2 per cent to 103.10p.

Inter-dealer Icap beat forecasts to post a 5 per cent rise in annual pre tax profit at £346m for the year ending March 31. Shares rallied 8.7 per cent on to 433p on the back of the news.

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