FTSE riding high as US shares climb

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In London, shares gained some ground through the afternoon as investors showed increased confidence in the banking sector

The FTSE 100 index added 55.95 points (1.27%) to 4,454.63 by mid-afternoon. Royal Bank of Scotland led the pack with double digit gains, up 13.7% to 47.3p, despite revealing a loss. Scroders shares also climbed, up 8.5% to 944.5p. Fresnillo shares climbed 8.55% as metal prices rose, while Vedanta Resources added 7.58%. On Wall Street, markets opened in positive territory as investors digested the results of a stress test, which indicated around $75bn is needed to protect US banks, far less than some had feared. The Dow Jones climbed 128.56 points (1.53%) to 8,558.41, with banks lea...

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