Trading was mixed in London this morning as banks continued to climb on news of a $1trn toxic debt plan in the US, with the FTSE100 down 6.35 points (0.16%) to 3,946.46 by mid-morning.
The latest solution to the financial crisis in the US boosted the sector's shares in London, with Royal Bank of Scotland adding 8% to 27p, Lloyds Banking Group gained 6.34% to 65.4p, while Barclays climbed 4.2% to 126.7p.
However, miners were hit by falling demand for raw materials putting shares in Xstrata down 5% to 451p, Rio Tinto dropped 4.36% to £21.92, while Kazakhmys shares fell 3.92% to 386.5p.
Wall Street saw huge gains on Monday as investors celebrated the Federal Reserve's plan to help the private sector buy up toxic assets, with the Dow Jones adding 497.48 points (6.84%) to 7,775.86.
Banks benefited from the surge in share prices, with Bank of America up 26%, JP Morgan Chase climbed 24.6% and Citigroup shares added 19.5%.
Trading in the Far East was boosted by the US plan, with Tokyo's Nikkei 225 index up 272.77 points (3.32%) to 8,488.3.Investment Week
Three years at Wells Fargo
Effective from 9 December 2019
One firm with permission suspensions left
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