last updated: Wednesday 2 April 2008, 22:59pm

Print this page

FTSE closes at 5900

FTSE trader

The FTSE 100 Index has closed up 63.3 points at 5915.9 thanks to gains in the banking sector.

A day of buoyant trading saw the leading share index break through the 5900 ceiling for the first time in a month, following a 2.6 per cent rise on Tuesday.

Barclays and Royal Bank of Scotland were among the biggest risers, with banks on a high following increased demand for a share offering from Lehman Brothers.

But Halifax Bank of Scotland slipped 11.5p to 593p after the bank's finance director said margin pressures were likely to remain this year.

London Stock Exchange topped the risers board for a while and closed with a gain of 51p to 1333p.

And financial services firm Old Mutual led a strong session for insurance companies, rising 7.2p to 123.2p - a gain of more than 6 per cent.

Concerns about advertising revenue meant ITV shares remained at near historic lows, with the stock down 1.2p at 64.5p.

And the retail sector suffered, with Marks & Spencer down 2 per cent or 7.5p at 398.5p, Carphone Warehouse off 8.5p to 285p and Morrisons 5.75p down at 279.25p.

Winners: Old Mutual, ahead 7.2p at 123.2p; Royal Bank of Scotland up 20.5p at 381.5p; Barclays, up 24p at 504p and Schroders, up 47p at 1030p.

Losers: Severn Trent, down 54p at 1414p; Amec, off 26.5p at 720p; Carphone Warehouse, down 8.5p at 285p and Tullow Oil, down 16.5p at 638.5p.

© Independent Television News Limited 2008. All rights reserved.