Shares in British banks were broadly up on the FTSE 100 in morning trading after Barclays reported better than expected results for the full year ended 31 December 2010.
This morning Barclays said its pre-tax profit increased 32 per cent to six billion pounds, above the £5.68 billion expected by analysts. The group's investment banking arm performed particularly well, nearly doubling its profits to £4.8 billion.
The news appeared to encourage investors to look again at banking shares.
By 10:10 shares in Lloyds Banking Group were up 2.36 per cent to 67.25 pence per share, RBS shares increased 0.86 per cent to 44.65 pence per share and Barclays shares rose 2.72 per cent to 319.20 pence per share.
However HSBC saw its share price decline 0.41 per cent to 705.00 pence per share.
Overall the FTSE 100 was down 0.03 per cent to 6,058.37.