Financial stocks lead the charge

Financial stocks led the charge on the London market as concerns eased over the state of Italy’s beleaguered banking industry.

The FTSE 100 Index closed up 33.01 points to 6,779.84, as British lenders raced ahead on reports that the world’s oldest bank, Italy’s Monte dei Paschi di Siena, might be handed a state bailout to shore up its balance sheet.

Royal Bank of Scotland was the biggest riser on the London market, climbing 5% or 11.3p to 209.1p, while Barclays rose more than 4% or 9.9p to 226.8p.