FTSE 100 index surges on Lloyds earnings

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Source: Dukascopy Bank
FTSE 100 index climbed higher on Tuesday supported by the British banks. Lloyds Banking Group rallied 6% after company said it shifted to a profit in the first-quarter from a previous year's loss. Company cited reduced risk, cost controls and a more robust balance sheet as key drivers of its success. Rolls-Royce Holdings added 1.6% on news it signed a contract worth $315 million with aircraft engine manufacturer Pratt & Whitney. In contrast BP fell 2.6% after reporting a 13% drop in profit. At the moment of writing FTSE 100 is 0.39% or 22.10 points up at 5,759.88.

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