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Barclays 'leads' banking shares boost

Barclays 'leads' banking shares boost
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Barclays has continued its recovery on the FTSE 100 stock market index of leading shares after its chief executive reassured investors about the bank's health.

As a result the banking sector as a whole was given a boost with Royal Bank of Scotland increasing by 1.1p to 15.6p per share and Lloyds Banking Group rising 1.8p to 67p per share.

Barclays itself added 8.1p to hit 96.8p per share.

Meanwhile, the insurance firm Friends Provident gained 3.8p after what the Guardian's Nick Fletcher described as a "relatively upbeat" trading statement.

Friends Provident chief executive Trevor Matthews commented: "Friends is in good shape despite the turmoil in the financial markets and the uncertain economic environment."

In related news, it has been reported that Lloyds could be heading for conflict with the government following claims that the bank forced an offshore gas and oil company to relocate a major project to Singapore, putting 1,400 in Labour's north-east heartland at risk.ADNFCR-1681-ID-18993811-ADNFCR