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FTSE up 6 per cent on the week

The FTSE 100 has gained 6.3 per cent this week, closing up today at 3753.68 on Monday’s open of 3,530.73.

The UK benchmark index lifted higher in early trades today as UK banks tracked a strong recovery by their US peers the night before on Wall Street.

By 10am, the leading shares index was up 1.66 per cent to 3,773.69 after opening at 3,756. By 12.40, it had extended this gain by 2.28 per cent to 3796.77.

Barclays rose 12 per cent to 80.70p in afternoon trades but pulled back to close 3 per cent higher at 74p. Royal Bank of Scotland closed 3.32 per cent up at 21.80p and HSBC jumped over 6 per cent to 411.75p.


Local authority pension funds to sue RBS

Two British pension funds are to sue Royal Bank of Scotland, Sir Fred Goodwin and the entire RBS board of directors for losses incurred when RBS was bailed out, according to The Times.

Bubbling under

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