The FTSE 100 index today closed at its highest level this year, after ratings upgrades boosted confidence in banking profits.
Barclays led the increase and gained 13.25p or 2.7% to 505.25p by close of business in London and lifted the FTSE 100 index 14.3 points or 0.3% to 4560.5 while the FTSE All-Share index just missed its year high and closed up 11.95 points or 0.5% to 2276.85 – just two points under its 2004 high.
Royal Bank of Scotland seized gains on the back of its performance and climbed 36p or 2.1% to £17.26 while HBOS added 0.8% to 741.5p.
A ratings upgrade from Citigroup for BAE also helped the defence contractor, as its share price closed up 7.25p or 3.3% to 224p.
In the US, The Dow Jones Industrial Average index is the only index of the three main indices to stay afloat today.
The Nasdaq is down a fraction at 2,019.47, while the S&P 500 has lost 1.4 points to 1,134 and the Dow Jones is up 6.95 points or 0.07% to 10,444.IFAonline
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