Market report: tentative gains in the FTSE 100

 
Barclays bank: Traders could face charges
17 August 2012

The FTSE 100 made tentative gains today as bank shares continued to shrug off the sector's mounting Libor rigging scandal.

Embattled Barclays gained another 2%, while Lloyds Banking Group and Royal Bank of Scotland were also in positive territory.

The wider Footsie added 15.6 points to 5850.1 in thin trading volumes, helped by an overnight increase on America's Dow Jones Industrial Average after encouraging earnings from networking giant Cisco Systems and a positive US housing report.

Sentiment is also being helped by German chancellor Angela Merkel's pledge while on a visit to Canada that Germany will do everything it can to save the euro.

In London, Barclays was near the top of the risers board with a 4.6p gain to 190.8p despite being one of three British banks summoned for questioning in the US, along with four other banks worldwide.

Royal Bank of Scotland and HSBC - also issued with subpoenas - were up 3.4p to 230.7p and 1.8p to 566.6p respectively.

But South West Water parent Pennon was one of the biggest losers, down 10.5p to 739p, after warning its Viridor waste arm was seeing a plunge in first half trading due to sharply lower recycling prices.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Sign up you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy notice .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in