FTSE 100 rises on Lloyds Banking boost

14-04-2009

FTSE 100 rises on Lloyds Banking boost
The FTSE 100 made a promising start, led by Lloyds Banking, as investors returned from the Easter break, rising 15 points in early trading to 3,999.47 by 08:30 BST.

Financials benefited following reassuring results in the US as banks began posting first quarter profits.

A better-than-expected result for Goldman Sachs boosted banking stocks, while firmer metals prices helped mining stocks.

Lloyds Banking Group topped the FTSE 100, rising 8.93 per cent to 86.60p, while Royal Bank of Scotland followed with an 8.62 per cent rise, and Barclays was up by 8.51 per cent.

Xstrata jumped 5.85 per cent, as Rio Tinto rose 5.04 per cent.

Several defensive stocks remained in the red, including pharmaceutical firm Shire, which dropped by 2.6 per cent, and British American Tobacco, down 2.36 per cent.

In the US, the Dow Jones was off by 0.32 per cent yesterday, while the S&P 500 rose 0.25 per cent.

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