A 10% rise in profits for the UK’s biggest bank today failed to stave off a downbeat beginning to the week for the FTSE 100 Index.

The FTSE 100 Index endured a difficult start to the week today as losses for banks sent the London market more than 1% lower.

Banking group Barclays today entered the Russian retail banking market by agreeing a deal to buy Expobank for US$745m (€490m).