London’s FTSE 100 was up 1% at 7,478.33 in afternoon trade on Monday.
Barclays was among the top gainers, recovering from heavy losses at the end of last week, when bank shares took a hit after a spike in Deutsche Bank credit default swaps.
The sector also found some relief after it was announced that First Citizens Bank had agreed to buy the deposits and loans of collapsed Silicon Valley Bank from US regulator the Federal Deposit Insurance Corporation (FDIC).
Oil giant BP was also a high riser as oil prices advanced.
On the downside, precious metals miner Fresnillo lost its shine as gold prices slipped.
FTSE 100 – Risers
3i Group (III) 1,601.50p 3.82%
Barclays (BARC) 137.92p 3.00%
Burberry Group (BRBY) 2,397.00p 2.30%
BP (BP.) 496.75p 2.15%
Melrose Industries (MRO) 161.25p 2.12%
Flutter Entertainment (CDI) (FLTR) 14,270.00p 2.11%
DCC (CDI) (DCC) 4,381.00p 2.10%
Airtel Africa (AAF) 106.60p 1.91%
Admiral Group (ADM) 2,034.00p 1.90%
Rentokil Initial (RTO) 577.00p 1.87%
FTSE 100 – Fallers
Fresnillo (FRES) 728.80p -0.52%
Phoenix Group Holdings (PHNX) 546.60p -0.40%
Severn Trent (SVT) 2,813.00p -0.11%
Diageo (DGE) 3,597.00p -0.06%
Haleon (HLN) 325.65p -0.03%
Kingfisher (KGF) 256.30p 0.00%
Endeavour Mining (EDV) 1,861.00p 0.05%
NATWEST GROUP (NWG) 258.80p 0.12%
Smiths Group (SMIN) 1,712.00p 0.12%
United Utilities Group (UU.) 1,041.50p 0.14%
