Banking shares were in the ascent today despite more grim revelations about the industry.
Swiss bank UBS agreed penalties of £940million to settle with global regulators after admitting to fraud and corrupt payments as it sought to manipulate Libor rates to flatter its own financial strength and reputation.
In a session when the FTSE 100 Index maintained its recent progress to stand 25.6 points higher at 5,961.5, RBS was lifted 10.3p to 315.4p by an upgrade of the European banking sector by broker Credit Suisse. Lloyds Banking Group was also 2p higher at 49.2p and Barclays improved 5.4p to 266.5p.
In a quiet session for corporate news, shares in Bunzl were 46p lower at £10.20.
The packaging group said underlying revenue growth for the year was expected to be about 2.5% against a particularly strong performance in North America last year.
Shares in B&Q owner Kingfisher clawed back earlier losses, closing up 1.5p to 278.5p, after Euan Sutherland, who had been seen as a potential successor to current chief executive Ian Cheshire, was hired by the Cooperative Group as its next boss.
The biggest FTSE 100 risers included CRH up 57p to £12.24, Admiral ahead 52p to £11.99 and International Consolidated Airlines up 7.8p to 188.5p.
Among the biggest FTSE 100 fallers were British American Tobacco off 81p to £30.95, Rio Tinto 61.5p lower at £35.06 and United Utilities down 11.5p to 688p.
Steven McKay, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted Wood Group jumped 1.58% to 740p, Hunting added 1.52% to 767.75p and AMEC closed 0.99% higher at £10.23.
On the fallers board, A.G. Barr fell 1.09% to 497p, BG Group lost 0.78% to £10.23 and Premier Oil slipped 0.25% to 322.1p.
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