Business

Bank shares lead FTSE 100 higher

City traders Image copyright Getty Images

(Close): The FTSE 100 was back above the 6,000 level on Friday, helped by a strong performance in banking shares.

The UK's benchmark share index climbed 70.61 points, or 1.2%, to 6,021.09.

Bank shares led the way. Lloyds Banking Group was up 5.4%, while Standard Chartered jumped 5.1% and Barclays rose 3.9%.

Shares in Tesco rose 2% to 155.77p after the retail giant announced it was selling its Dobbies Garden Centres chain for £217m.

The sale continues Tesco's recent strategy of focusing on its grocery business.

Shares in National Grid, which owns and operates the UK's gas and electricity networks, fell 0.3% after a committee of MPs said the company should be broken up.

The Energy and Climate Change Committee said National Grid should be replaced by a US-style independent operator.

JD Sports shares rose 1.1% to £12.39 after the sportswear retailer said it was expecting "excellent" half-year results, with its business boosted by the Euro 2016 football tournament.

On the currency markets, the pound rose 0.51% against the dollar to $1.4275 and was 0.25% higher against the euro at €1.2688.