FTSE begins week strongly

The FTSE 100 rose during the first trading session of the week today (December 21st), boosted by gains in the financial and energy sectors.

At 12:06 GMT, the benchmark index was 1.1 per cent - or 58.33 points - higher, Reuters reports.

Rises of as much as 2.2 per cent were recorded by Royal Bank of Scotland, Barclays, Standard Chartered, HSBC and Lloyds Banking Group, with the sector rebounding following the falls that were seen on Friday.

Many banks finished last week lower, as investors were put off by the news that new regulations could ensure financial firms become less exposed to risk.

Cairn Energy was the biggest climber in the morning session, adding five per cent on the news that it can now begin an exploration programme off the coast of western Greenland.

The firm price of oil aided its rising stock price, while Tullow Oil BG Group, Royal Dutch Shell and BP were also higher.ADNFCR-2318-ID-19524159-ADNFCR