News the Clive Cowdery-led Resolution Ltd is looking to control lender Bradford and Bingley has fuelled a positive start for London markets this morning. B&B itself is 14.39% ahead this morning, to 75.50.
The FTSE100 is higher as investors gain confidence in the battered financials sector, up 16.20 points (0.29%) to 5683.40.
Thomas Cook is leading the way for the blue-chips, after announcing it has reduced first half losses by 15% in April. The travel group is 3.74% higher to 243. Rival TUI is also up on the news, 2.92% ahead to 211.75.
Miners are doing well, with Antofagasta 3.33% higher to 666.50.
The London Stock Exchange Group is having a difficult start however, down 3.74% to 836.50; while property firm Liberty International is 3.29% lower to 852.
In New York, Wall Street closed flat on Monday as a late rally eased concerns of high crude costs and job losses at Citi and Goldman Sachs. The Dow Jones fell by just a third of a point to 11842.36.
Struggling auto giant General Motors continues to feel the pinch of higher oil prices and lower demand, dropping another 6.38% to 12.91.
The job losses hit financials hard, with Citigroup itself falling 3.89% to close on 18.55. Insurer AIG plunged 5.61% to 30.30 and Bank of America lost 4.5% to 25.88.
The oil conglomerates led the gains as crude hit $137 a barrel, Exxon Mobil jumped 3.29% to 87.70 and Chevron added 2.53% to 99.06.
In Tokyo, Japanese stocks also remained relatively calm on another strong day for commodities-based companies. The Nikkei 225 index dipped just slightly on Tuesday, 7.91 yen (0.06%) lower to 13,849.56.IFAonline
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