Financial News

LONDON (ShareCast) - 1405: Footsie (news) has picked up slightly as we await the US open. Lloyds still leads the way after an upgrade to 'buy' from 'neutral' at Goldman Sachs (NYSE: GS - news) , which thinks it's the cheapest large-cap bank in Europe. Peer RBS also advances. Miners are a weak spot with Xstrata (LSE: XTA.L - news) the heaviest faller. FTSE 100 up 34 at 4,275.

1235: Footsie still sits in the blue as financial stocks advance. Lloyds Banking (LSE: LLOY.L - news) leads the way, helped by an upgrade to 'buy' from 'neutral' at Goldman Sachs, which thinks it's the cheapest large-cap bank in Europe. Outsource group Serco, the operator of London's Docklands Light Railway, is going well after an upbeat trading statement. Precious metals stocks fall back amid lower prices. Silver miner Fresnillo (LSE: FRES.L - news) is lowest, with platinum group Lonmin (LSE: LMI.L - news) also falling back. FTSE 100 up 18 at 4,259.

1045: Footsie is keeping itself in the blue despite falls in the mining sector. Precious metals stocks fall back amid lower prices. Silver miner Fresnillo is lowest, with platinum group Lonmin also falling back. Outsource group Serco, the operator of London's Docklands Light Railway, is going well after an upbeat trading statement. FTSE 100 up 8 at 4,249.

0920: Footsie has added to earlier gains with financials going well led by Prudential, Admiral (LSE: ADM.L - news) and Lloyds, though it is Intercontinental Hotels that is currently top of the heap. Defensives are under a bit of pressure with GlaxoSmithKline (LSE: GSK.L - news) and AB Foods two of the worst performers so far, though falls are minor. FTSE 100 up 22 at 4,264.

0825: Footsie has made a steady start led by Lloyds Banking and insurer Admiral. Serco is also going well on an upbeat trrading statement. Lonmin, Schroders (LSE: SDR.L - news) and Balfour Beatty (LSE: BBY.L - news) are the laggards so far. FTSE 100 up 7 at 4,248.