US banking news provides lift to FTSE

London's blue chip share index hit a new 13-month high today on the back of a bumper start to the US bank reporting season and mounting hopes of economic recovery.

Wed, 14 Oct, 2009 - 19:28

London's blue chip share index hit a new 13-month high today on the back of a bumper start to the US bank reporting season and mounting hopes of economic recovery.

A 581% leap in third quarter profits from JP Morgan - the largest US bank and first out of the stalls with figures - sent UK bank shares soaring.

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