Morning markets: Engineering groups lead fallers, UK banks remain strong

The FTSE 100 is up at the open, after central banks pledged yesterday to improve liquidity conditions for European banks. 

The FTSE 100 is up 0.23% at the open today after central banks, including the Federal Reserve and the European Central Bank (ECB), coordinated efforts to try and ease liquidity for European banks yesterday.

Home improvement retailer Kingfisher is currently leading the gains on the index, up 4.38% to 266.80. Software provider Sage has demonstrated a 2.34% rise to 296.90, followed by Royal Bank of Scotland, which is up 2.05% to 21.42 a share. Lloyds Group is up 1.91% to 25.30 and Resolution is up 1.70% to 239.60.

Engineering groups GKN and IMI are leading the declines, demonstrating a 2.31% drop to 190.00 and 1.57% to 785.50, respectively. Petrofac is down 0.97% to 1,435.00, Lonmin by 0.84% to 1,061.00 and Tate & Lyle by 0.67% to 668.00.

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