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View the article online at http://citywire.co.uk/wealth-manager/article/a730741

Banks help FTSE rebound after five days of losses

by Chris Marshall on Jan 28, 2014 at 10:06

Royal Bank of Scotland also gained back some of yesterday’s lost ground, climbing 2% to 338p. On Monday the company surprised investors with the news that it needs another £3.1 billion to cover mis-selling costs.

Imagination Technologies was the biggest loser on a buoyant mid-cap FTSE 250 index, down 1.5% to 176p. The tech company was suffering after Apple – which uses Imagination’s chip designs – reported flat quarterly profits. Apple shares fell some 9% in after-hours trading.

F&C Asset Management added to Monday's leap higher, rising another 4.3% to 121p, as investors welcomed the news that Bank of Montreal and F&C have agreed the terms of an all-cash £708 million takeover by the Canadian bank.

Today investors in Vodafone will have the chance to vote on the disposal of its stake in US company Verizon.

In the US, president Barack Obama is set to give his State of the Union speech.

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