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FTSE closes at 4018.4.

Summary: The FTSE 100 Index has closed 11.5 points up at 4018.4 to break a five-day losing streak.

The FTSE 100 Index has closed 11.5 points up at 4018.4 to break a five-day losing streak.

The banking sector made eye-catching gains, with RBS clawing back heavy losses. Shares jumped 17 per cent or 3.7p to 21.8p, making it the FTSE's leading riser.

Lloyds followed close behind, adding 6p to 56.8p - a gain of 10 per cent - and Barclays got in on the act with a 7.8p advance to 101.1p, almost 8 per cent better.

They were joined on the risers board by defence group BAE Systems after annual earnings of Au1.9 billion exceeded market expectations and the company said it was confident of further growth in 2009. Shares were up 13.75p at 400p.

Oil prices rising on the US data sent crude to almost $39 a barrel, helping many players in the sector. BP firmed 5.5p to 483.25p, while Tullow Oil added 14p to 702.5p.

B&Q owner Kingfisher saw shares fall 3.1p to 128.7p while rival, Homebase owner Home Retail Group, was 4p better at 222p.

Drinks can firm Rexam was a prominent faller despite reporting a 34 per cent increase in full-year profits. Shares dropped more than 11 per cent, down 31p at 278.5p.

Pharmaceuticals firm Shire meanwhile fell 7 per cent after fourth-quarter sales fell short of market hopes. Shares were 66.5p lighter at 942.5p.

Under-pressure insurer Legal & General took more losses as it cut payouts to with-profits policyholders. L&G, which has shrugged off concerns about its capital position in recent days, lost 2.4p to 37.6p.

Winners: RBS up 3.7p at 21.8p, Lloyds ahead 6p at 56.8p, Barclays up 7.8p at 101.1p and Rio Tinto up 116p at 2000p.

Losers: Old Mutual down 6p at 41.1p, Rexam off 31p at 278.5p, Shire down 66.5p at 942.5p and Legal & General down 2,4p at 37.6p.

Independent Television News Limited 2009. All rights reserved.

Independent Television News Limited 2009. All rights reserved.

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Publication:Independent Television News Limited (ITN)
Date:Feb 20, 2009
Words:373
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