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FTSE 100 buoyant in early trade
Friday 8th May 2009, 9:14AM BST.
The FTSE 100 rose 1.47 per cent in early trading to 4,463.18 as banking stocks made up for previous losses and the mining sector held firm.
Royal Bank of Scotland was up 9.38 per cent by 08:50 BST, while Lloyds Banking Group was up by 5.46 per cent on the blue-chip index.
Xstrata was also among the risers, up by 4.96 per cent, while Randgold Resources was up by 4.93 per cent.
Most stocks on the index were buoyant in early trade, but travel stocks fell slightly
Thomas Cook fell 1.54 per cent, while TUI Travel was down by 1.02 per cent and InterContinental Hotels dropped 0.94 per cent.
Despite a rise in US banking stocks following the better-than-expected results of the stress test, US markets slipped last night.
The Dow Jones was off by 1.2 per cent and the S&P 500 fell 1.3 per cent after analyst downgrades for the telecoms sector and a lukewarm response to a bond auction, raising concerns over public finances.
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