FTSE posts strong gains

The FTSE 100 Index overcame the shock of a crackdown on banks overcharging customers for late repayments on their credit cards to post strong gains today.

After falling into the red when the Office of Fair Trading (OFT) warned banks that it would view any penalty charge above £12 (€17) for missed payments as unfair, the Footsie recovered to close 39.4 points higher at 6044.1.