Shares in British banks had mixed success on the FTSE 100 in afternoon trading following disappointing results from Credit Agricole in France and a wearing off of the bounce produced by a new government.
Yesterday saw shares in banks rise briefly after it became clear that the Conservative Party would be forming a coalition government with the Liberal Democrats. However the effect was short-lived and shares soon sank, a trend which seemed to continue today.
In addition investors may have been discouraged by disappointing results from Credit Agricole yesterday. The bank said that it made a lower than expected quarterly profit of 470 million euros.
By 15:40 shares in Lloyds Banking Group were up 1.11 per cent to 60.23 per cent, while RBS shares rose 1.19 per cent to 48.98 pence per share.
However Barclays shares declined 0.58 per cent to 326.90 pence per share and HSBC shares fell 0.27 per cent to 664.90 pence per share.
Overall the FTSE 100 was up 0.83 per cent to 5,427.17.