Business

FTSE 100 rises as banks recover

London stock brokers (file photo) Image copyright AFP

(Close): London's leading shares gained ground on Wednesday, as a sharp rebound in Deutsche Bank shares provided some respite for banking stocks.

The FTSE 100 closed up 36.34 points, or 0.7%, at 5,668.53. HSBC was up 1.9%, while Barclays was 1.3% higher.

Payments firm Worldpay Group rose 5.7% following a buy recommendation from Goldman Sachs, while British Airways owner IAG was up 4.8%.

On the downside, mining stocks performed poorly.

Randgold Resources slid 3.5%, Antofagasta fell 3.1%, while Fresnillo closed 2.7% lower.

On the commodities markets, Brent crude was up 1.5% to $30.76, while US light crude fell 1.3% to $27.57.

On the currency markets, the pound was unchanged against the dollar at $1.4474 and 0.6% higher against the euro at €1.2886.