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Respite for banks lifts FTSE 100

Tuesday was a better day for Britain's banks on the stock market, after investors deserted them on Monday amid a growing sense of nervousness in response to European debt jitters.

Barclays saw its share price rise 8.05p to 215.7p as opportunistic buyers swept in, while Lloyds Banking Group increased by 1.6p to 42.95p.

Shares in the Royal Bank of Scotland were up 0.5p to 33.5p, despite the revelation that Nathan Bostock will leave his role as head of restructuring and risk from next year to take up a position at its competitor Lloyds.

The boost comes on the back of Monday's stock market rout when shares in the sector dropped by as much as seven per cent.

The FTSE 100 Index also enjoyed a relatively successful day, rising by 25.9 points to 5778.8 after closing 90 points lower the day before.

Copyright © Press Association 2011

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