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Bank shares lead FTSE 100 higher | Bank shares lead FTSE 100 higher |
(about 4 hours later) | |
(Noon): The FTSE 100 was back above the 6,000 level on Friday, helped by a strong performance in banking shares. | |
The UK's benchmark share index climbed 75.01 points, or 1.3%, to 6,025.49. | |
Bank shares led the way, with Lloyds Banking Group up 5.2% and both Barclays and Standard Chartered 4.6% higher. | |
Tesco rose 1.4% to 154.80p after the retail giant sold its Dobbies Garden Centres chain for £217m. The sale continues Tesco's recent strategy of focusing on its grocery business. | |
Shares in National Grid, which owns and operates the UK's gas and electricity networks, fell 1% after a committee of MPs said the company should be broken up. | |
The Energy and Climate Change Committee said National Grid should be replaced by a US-style independent operator. | |
JD Sports shares rose 0.4% to £12.30 after the sportswear retailer said it was expecting "excellent" half-year results, with its business boosted by the Euro 2016 football tournament. | |
On the currency markets, the pound rose 0.4% against the dollar to $1.4257 but was flat against the euro at €1.2659. |