Afternoon Markets: FTSE riding high as US shares climb

In London, shares gained some ground through the afternoon as investors showed increased confidence ...

In London, shares gained some ground through the afternoon as investors showed increased confidence in the banking sector. The FTSE 100 index added 55.95 points (1.27%) to 4,454.63 by mid-afternoon. Royal Bank of Scotland led the pack with double digit gains, up 13.7% to 47.3p, despite revealing a loss. Scroders shares also climbed, up 8.5% to 944.5p. Fresnillo shares climbed 8.55% as metal prices rose, while Vedanta Resources added 7.58%. On Wall Street, markets opened in positive territory as investors digested the results of a stress test, which indicated around $75bn is needed ...