Banks rally after Geithner pledge

Royal Bank of Scotland (RBS) advanced 13% to 14.1p while Lloyds Banking Group and Barclays toasted 15% and 7% gains respectively. Schroders, a frontrunner in bids for stricken asset manager New Star, advanced 13%, while Friends Provident climbed 10%. The moves helped push the FTSE above 4,150, a 2% gain. BT Group plunged 13% after it revealed Q3 profits at its Global services division had taken a substantial hit. In the US, gains of more than 30% for both Citigroup and Bank of America eased the Dow Jones toward a 3.5% climb on Wednesday. Sir Win Bischoff, Citi chairman, has announce...