London markets surged forward this morning as better-than-expected results from RBS raised hopes the banking sector may be over the worst of the credit crisis.
The main FTSE 100 index climbed 46.3 points (1.05%) to 4,444.98, with banks and resources firms leading the way. RBS added 8.17% after revealing it made a £44m loss in the first quarter of 2009. The result was considerably better than its record £24bn loss in 2008. Rival Lloyds climbed 5.26% to 102.1p. Mining company share prices were bolstered by rising metal prices with Rangold Resources leading the way with a 4.3% gain. Elsewhere, Xstrata added 4.23% and Lonmin advanced 4.13%. The Dow Jones fell yesterday after a number of banks failed a stress test, losing 102.43 points (1.2%) t...
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