FTSE 100 movers: Banks bounce back

29th Oct 2009 15:10

Shares in Lloyds Banking, which is in advanced discussions with UK authorities regarding alternatives to entering the state insurance scheme for toxic debt, are soaring. The lender is considering raising cash via an underwritten rights issue and debt swap.Fellow part-nationalised lender Royal Bank of Scotland climbs in sympathy.Metals prices have rebounded from losses yesterday, as have miners including Kazakhmys, Xstrata, Fresnillo, Anglo American, Antofagasta and Eurasian Natural Resources.Prudential has also recovered from a poor day yesterday when the insurer announced that a dive in UK business sent group insurance sales down 9% during the third quarter.Royal Dutch Shell remains in the doghouse. In a week in which long time rival BP topped market expectations with its third quarter results, the Anglo-Dutch oil giant's third quarter earnings (on a current cost of supplies (CCS) basis) of $3bn, down from $10.9bn a year ago, failed to enthuse the market.The figures were broadly in line with expectations but upstream earnings disappointed. BG Group, which announced third quarter results yesterday, joins Shell on the slide.Meanwhile, AstraZeneca falls even after the drug group posted a rise in profits and lifted forecasts. Analysts note that the company faces the threat of competition when it loses exclusivity over some of its products.FTSE 100 - RisersLloyds Banking Group (LLOY) 86.13p +7.66%Royal Bank of Scotland Group (RBS) 42.55p +7.46%Kazakhmys (KAZ) 1,181.00p +6.11%Xstrata (XTA) 935.50p +6.07%Fresnillo (FRES) 796.00p +5.85%Anglo American (AAL) 2,290.00p +5.14%SEGRO (SGRO) 362.10p +5.05%Prudential (PRU) 575.00p +4.45%Antofagasta (ANTO) 822.50p +4.38%Eurasian Natural Resources (ENRC) 886.50p +4.17%FTSE 100 - FallersRoyal Dutch Shell 'B' (RDSB) 1,804.50p -3.48%Royal Dutch Shell 'A' (RDSA) 1,845.00p -3.45%AstraZeneca (AZN) 2,748.50p -1.45%Aviva (AV.) 393.20p -1.16%BAE Systems (BA.) 315.60p -1.10%British American Tobacco (BATS) 1,936.50p -1.05%Shire Plc (SHP) 1,021.00p -0.97%BG Group (BG.) 1,084.50p -0.96%TUI Travel (TT.) 225.80p -0.96%G4S (GFS) 246.60p -0.64%