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FTSE hits 4-month high

The FTSE 100 opened higher today with banking stocks pushing the index to its highest intraday level since mid-January.

The blue-chip index opened higher at 4,271 on its previous close of 4,243 and by 9.12am was 2.5 per cent higher at 4,348.

By 12.22pm, it had extended gains and was 2.9 per cent higher at 4,367 after reaching a day-high of 4,375.

Banks received a boost with news that capital requirements for 10 US banks would be less than expected.

Barclays was up 8.1 per cent at 301.75p, Royal Bank of Scotland gained 13 per cent to 49.70p and Lloyds Banking Group gained 13.8 per cent to 124.70p.

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Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 

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