Afternoon markets: British banks make the strongest gains

In a good session for the British banking sector, RBS, Lloyds and Barclays have all posted some of the strongest gains of the day.

The FTSE 100 has broken its nine-day losing streak by finishing 0.63% above its 5,127.57 opening, boosted by a strong performance from the UK financial sector.

RBS has continued to recover previously lost ground by becoming the FTSE 100’s strongest performer of the day, gaining 4.79% to reach 18.83 per share.

Shares in Inmarsat grew 3.85% to reach 404.30, Lloyds Group by 3.68% to 23.23, Admiral Group rose by a further 3.16% to 881.50 and Barclays climbed 2.43% to 156.20 a share.

Vendanta, meanwhile, led the day’s declines, dropping 2.83% in value to 9.28.00 a share.

Severn Trent fell by 1.90% to 1,494.00 a share, Glencore by 1.83% to 375.15, Cairn Energy by 1.46% to 263.80 and Fresnillo by 1.18% to 1,586.00 a share.