FTSE riding high as US shares climb


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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