Shares in British banks were broadly up on the FTSE 100 in morning trading following a good set of full year results from Barclays, announced yesterday.
Barclays, which did not need a bailout from the government during the financial crisis, reported that in 2010 its pre-tax profits rose 32 per cent to six billion pounds, thanks to a near doubling of profits at its investment banking arm.
The strong set of results appeared to give a short term boost to investor confidence in banks.
By 09:30 shares in Lloyd Banking Group were up 1.23 per cent to 67.70 pence per share, RBS shares increased 1.44 per cent to 45.90 pence per share and HSBC shares rose 1.88 per cent to 714.80 pence per share.
However Barclays started to decline after strong gains yesterday, with shares down 0.08 per cent to 328.50 pence per share.
Overall the FTSE 100 was up 0.50 per cent to 6,066.98.