//
Reuters reports that the FTSE added 42.27 points - or 0.7 per cent - to reach 5,951.03 soon after the start of trading, having ended Thursday down by 0.7 per cent. Barclays was the morning's biggest winner, with shares in the firm surging by 3.4 per cent.
"With macro concerns weighing on trading revenues, we have trimmed investment bank forecasts, but believe much is in the price," broking firm Nomura stated in a note issued to clients this week.
The latest Chinese purchasing managers' index also lent momentum to the mining sector, as well as reassuring investors that moves to tighten fiscal policy and restrict inflation had not impacted economic growth.
New York mayor Michael Bloomberg this week hinted that he would welcome Barclays to his city should the bank decide to leave its current London base in search of pastures new.
Posted by Clive Arneil
