HBOS, RBS recover lost ground

HBOS and Royal Bank of Scotland continued to recover lost ground today as the FTSE steadied after the global moves to tackle the financial crisis.

The FTSE 100 Index rose more than 100 points at one stage before settling 62.9 points higher at 4429.6 by mid-morning. It tumbled 5% yesterday during the latest bout of turmoil, but upward momentum was provided by overnight gains for Asian markets including Hong Kong’s Hang Seng, which rose more than 3%.