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Banks push FTSE higher

The FTSE opened higher today at 4,036 after a rally on Wall Street overnight helped boost London equities.

The blue chip index opened up from Thursday’s close of 4,018 and by 9.30am had gained 1.3 per cent to 4,073 with the banking sector faring well in early trades.

By 12.45, the index had extended early gains, up 2.2 per cent to 4,106.

Barclays was up 4.5 per cent to 227p, Lloyds Banking Group was up 3.9 per cent to 99.70p and HSBC was up 2.1 per cent to 468.75.

Royal Bank of Scotland was up marginally in early trades but slipped into the red in the afternoon, down 0.95 per cent to 31.20p.

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