Banking recovery helps FTSE

HBOS shares surged 38.75 points (13.69%) to 321.75p after and FSA decision over shorting positions on rights issues, while Alliance & Leicester gained 33.25 (10.88%) to 338.75p. Cairn Energy dropped 142p (4.15%) to £32.83, while Tullow Oil shares fell 33p (3.59%) to 887p after commodity stocks eased. On Wall Street, markets made a recovery in early trading after a shaky week, with the Dow Jones up 124.65 points (1.03%) to 12,266.23. Alcoa shares made the biggest gains, up 1.64 (4.35%) to $39.38, while Microsoft added 1.09 (3.86%) to $29.34 after announcing it would not renew its offer fo...