Morning Markets: Banks and miners drive early FTSE charge

In London, markets experienced strong, early growth, with banks and miners leading the pack. The FTSE 100 added 40.81 points (0.93%) to 4,429.56 by mid-morning.

Lloyds Banking Group shares surged forward this morning on the back of a rumour that Ron Sandler, chairman of Northern Rock, is among the frontrunners to take over from the bank's existing chairman, Sir Victor Blank. Shares jumped 8.15% to 73p. Kazakhmys and Rio Tinto led growth in the mining sector, up 4.7% and 3.34% respectively. Wall Street shares were in positive territory at the end of last week after a day of mixed corporate reports. The Dow Jones climbed 32.12 points (0.37%) to 8,743.94 on the back of strong bank results. JPMorgan Chase shares continued to build after ma...