FTSE 100 up with banking bounce

Thursday 30th April 2009

The FTSE 100 rose in early trading this morning due to a bounce for banking stocks.

At 08:18 BST, the index was up 56.85 points – or 1.36 per cent – to 4,246.44.

Following Santander's positive results yesterday, financial stocks continued to see growth – with Royal Bank of Scotland leading gains up7.07 per cent to 39.40p.

Barclays rose 6.24 per cent and Lloyds Banking climbed 5.41 per cent.

Kazakhmys was up 6.65 per cent and Invensys rose 5.71 per cent.

Leading the drops was Cadbury – down 3.29 per cent – as its two per cent sales growth was below market expectations.

Insurer Admiral fell 2.84 per cent and miner Fresnillo dropped 1.09 per cent.

Last night in New York, the Dow closed up 2.11 per cent, while Chicago's S&P 500 gained 2.16 per cent.

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