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FTSE winning streak loses steam

The FTSE 100 opened higher at 4,588 this morning looking to notch up a new record of 12 positive sessions.

By 9.04am, the index was 0.4 per cent higher at 4,606 with Lloyds Banking Group amongst the strongest gainers up 4.1 per cent to 86.76p.

The rise in share price follows the announcement from the bank that Sir Win Bischoff, former chairman of US bank Citigroup is to succeed Sir Victor Blank as chairman when he steps down in September.

But by 1.40pm, the index was 0.9 per cent lower at 4,546 and Lloyds had slipped 2.1 per cent to 81.55p as investors took profits.

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