LONDON (ShareCast) - Banks have staged a major recovery after US banking giant Citigroup released second quarter losses that were better than feared.

Royal Bank of Scotland, Lloyds TSB, HSBC are up and even Barclays is making good gains even though it received acceptances from just 19% of shareholders for its open offer.

Other US-related stocks are also in demand led by Wolseley and Schroders, while fuel users British Airways and Carnival make gains on the fall in the price of crude oil to below $130 per barrel.

Miners are the weak spot led by Ferrexpo and ENRC while talk of a windfall tax on Drax is keeping the power station operator under pressure.

FTSE 100 - Risers
Wolseley (WOS) 326.00p +14.09%
Royal Bank of Scotland Group (RBS) 198.30p +10.47%
Barclays (BARC) 318.75p +9.72%
Lloyds TSB Group (LLOY) 323.75p +7.74%
Schroders (SDR) 1,005.00p +7.20%
Enterprise Inns (ETI) 343.00p +6.94%
Friends Provident (FP.) 86.20p +6.82%
Schroders NV (SDRC) 894.50p +6.74%

FTSE 100 - Fallers
Ferrexpo (FXPO) 272.00p -7.56%
Eurasian Natural Resources (ENRC) 1,033.00p -6.09%
Kazakhmys (KAZ) 1,316.00p -5.46%
Petrofac Ltd (PFC) 612.00p -4.97%
Drax Group (DRX) 683.50p -4.34%
Xstrata (XTA) 3,364.00p -4.02%
Reckitt Benckiser Group (RB.) 2,397.00p -3.66%
Lonmin (LMI) 2,429.00p -3.38%

• News Channel