Banks helping FTSE escape bear territory

Both the Royal Bank of Scotland (RBS) and Barclays have boosted their share value by more than 12% propelling the FTSE up 150 points to 5,300.9. The bear benchmark currently stands at 5384.55. RBS has advanced 21.1p, or 12.79%, to 186.1, by far its biggest climb in a month, while Barclays has gained 32.75p to advance to 299.5p. Power plant form Drax heads the day’s loser’s table so far, dropping 27.5p, or 3.65%, to 726.5p, and is followed by British Energy Group, down 17p to 705.5p, and International Power, down 7.25p, or 1.7%, to 418.25. IFAonline