Shares in British banks were broadly up on the FTSE 100 in morning trading as positive economic data helped revive some investor confidence.
Early this week investor confidence was subdued somewhat as ongoing political unrest in Egypt continued injecting uncertainty into the markets. Yesterday however Egyptian President Hosni Mubarak said he would not stand for re-election this September, helping to calm if not end the protests.
On the wider economic front there was some good news when the U.S. released manufacturing data, which showed the strongest growth in almost seven years.
By 09:55 shares in Lloyds Banking Group were up 0.67 per cent to 64.86 pence per share, Barclays shares increased 1.62 per cent to 303.35 pence per share and HSBC shares rose 1.08 per cent to 695.10 pence per share.
RBS however saw its shares decline 0.19 per cent to 42.31 pence per share.
Overall the FTSE 100 was up 0.64 per cent to 5,995.82.