London's blue chip stock exchange rocketed upon opening as RBS's new executive team axed some long-term boardroom members.
Sir Philip Hampton, new chairman of the troubled bank, hopes a boardroom reshuffle and retirement of seven non-executive directors will mark a departure from the bank's former acquisition-happy days. The FTSE 100 passed 4,260 before 9am and is now up 20.88 points or 0.49% to 4,249.81. RBS leads the way climbing 7.73% while fellow bank Lloyds Banking Group rose 6.56%. However, TUI Travel which includes many UK holiday operators, has plunged 2.58% reflecting consumer gloom on the high street. In Japan, the Nikkei 225 is also up 1.60%, climbing 126.97 points to 8076.62. IFAonline
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