HBOS has shot to the top of the FTSE winner's table after Goldman Sachs reportedly said it was the only bank whose shares were worth buying in the current climate.
The index has risen marginally, climbing 10.7 points, or 0.18%, to 6,056.9, but HBOS is doing most of the early work and has advanced 20.5p, or 3.8%, to 560p.
SABMiller, up 40p to £11.60, and Barclays make up the top three and are joined by Alliance & Leicester and the Royal Bank of Scotland Group.
However, gains are being stemmed by marginal losses for Wolseley, down 10p to 542p, BG Group and retail firm Next.
In the US, the Dow Jones made impressive gains yesterday advancing 256.8 points, or 2.08%, to 12,619.27.
JPMorgan Chase rose 2.84 points, or 6.74%, to 44.96, and was followed by Intel Corporation, up 1.22 points, or 5.83%, to 22.13. Du Pont, GEN Motors, and Caterpillar also advanced.
Merck & Co was the day’s biggest loser, dropping 0.91 points, or 2.21%, to 40.31, followed by Procter Gamble, down 0.56 points, or 0.8%, to 69.27.
Japanese shares climbed for a third day after positive earnings forecasts at US banks eased the credit crunch concern.
The Nikkei 225 Stock Average climbed 252.17, or 1.9%, to 13,398.30 at the close of trading in Tokyo.
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