The banking and financial services sector has helped lift London’s leading share index, the Times reports today (December 21st).

Leading retail banks saw their shares rise, with both Royal Bank of Scotland and Lloyds Banking Group up by more than 2 per cent, while Barclays shares rose by 1.7 per cent to 268.75p.

Lloyds shares saw the most significant rise of all listed companies.

The boost in share prices followed a poor day of trading on Friday, with the FTSE 100 closing 20.8 points down, reflecting concern about new rules on the amount of capital banks have to maintain.

Proposed by the Basel Committee on Banking Supervision, the new regulations are designed to prevent another global financial crisis by shielding account holders from losses.

The developments on the stock market are testament to the continuing strength of the financial services sector and suggests that new regulation will not damage profits.

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