Banks enjoy strong session

London’s top flight index pushed higher yesterday, with UK banks enjoying a strong session after the Italian government committed £15billion to wind up two failed businesses.

The FTSE 100 Index closed up 22.67 points at 7,446.8 as investors cheered a move by Italian ministers to split Veneto Banca and Banca Popolare di Vicenza into “good” and “bad” banks.

Royal Bank of Scotland rose 4.2p to 249.8p, while Barclays climbed 2.4p to 199.9p and HSBC stepped up by 8.2p to 688.9p.

Blue-chip stocks also enjoyed a boost following the announcement that Prime Minister Theresa May had struck a deal with the Democratic Unionist Party (DUP) to prop up her minority government.

Strength returning to the oil price also provided some uplift to the London market.

Brent crude was up 0.6% at $45.79 a barrel.

Costa Coffee owner Whitbread was up 86p to 4,045p.