London’s FTSE 100 was down 1.4% at 7,322.40 in afternoon trade on Friday.
Banks Standard Chartered and NatWest were among the top performers.
Russ Mould, investment director at AJ Bell, said: “The idea that interest rates will keep going up has shifted investors’ attention back to the banking sector, with NatWest among the top FTSE risers.
“It is one of the few industries whose earnings should benefit from the higher cost of borrowing.”
On the downside, property stocks were under the cosh, with Segro, Land Securities and British Land all lower.
FTSE 100 – Risers
Standard Chartered (STAN) 612.00p 1.22%
Smurfit Kappa Group (CDI) (SKG) 3,044.00p 0.26%
Fresnillo (FRES) 854.20p 0.12%
Aveva Group (AVV) 3,209.00p 0.00%
Antofagasta (ANTO) 1,457.00p -0.07%
NATWEST GROUP (NWG) 258.30p -0.08%
British American Tobacco (BATS) 3,280.50p -0.14%
Endeavour Mining (EDV) 1,698.00p -0.18%
Compass Group (CPG) 1,899.00p -0.18%
Glencore (GLEN) 531.40p -0.23%
FTSE 100 – Fallers
SEGRO (SGRO) 750.80p -5.56%
Unite Group (UTG) 889.00p -5.07%
Land Securities Group (LAND) 607.00p -5.07%
DCC (CDI) (DCC) 4,065.00p -4.35%
British Land Company (BLND) 383.80p -4.12%
Ocado Group (OCDO) 633.00p -4.09%
Intermediate Capital Group (ICP) 1,149.50p -3.97%
Entain (ENT) 1,316.00p -3.80%
Hargreaves Lansdown (HL.) 847.20p -3.75%
3i Group (III) 1,288.50p -3.59%
