London shares rebound over five percent

October 21st, 2008 - 4:53 am ICT by IANS  

London, Oct 21 (Xinhua) London stock market closed higher Monday, gaining more than five percent.The FTSE 100 index ended with 219.66 points, or 5.41 percent higher at 4282.67, as investors hoped the global financial crisis would ease after government moves to bail out banks take root.

Banking shares led the growth with Royal Bank of Scotland added 23.18 percent, followed by insurer Prudential which rose by 22.31 percent.

Royal & Sun Alliance Insurance dropped 3.08 percent, whereas Brit Insurance Holdings shed 8.1 percent.

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