FTSE nears 2011 peak as banks climb

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The FTSE 100 is nearing a two-year high once again today as investors continue to snap up cyclical names including the UK's semi state-owned banks.

The blue-chip index is up 0.4% or 22.3 points, at 6,075, just a whisker away from the highest closing level seen in 2011, which was 6,091 points. Among the winners are Lloyds Group, up 5% at 53.4p, as well as peer Royal Bank of Scotland which is 2.4% firmer at 345.2p. The banks helped counter falls at insurer Aviva - down 2.5% at 372.4p amid fears over its dividend - as well as at Imperial Tobacco which is off 1.4% at £24.39. The UK's leading index has enjoyed a boost since late December, rising around 4%. It has been helped higher by US politicians coming to an agreement on the...

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