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FTSE 100 up 0.8%, FTSE 250 adds 0.9%
March 21 (Reuters) - London stocks opened higher on
Tuesday as lenders rose after fears of a banking crisis appeared
to ease, while the focus shifted to the U.S. Federal Reserve
ahead of its rate-setting meeting.
The blue-chip FTSE 100 advanced 0.8% by 0812 GMT,
extending gains after rising nearly 1% on Monday.
Fears of a global banking meltdown looked to ease after
Swiss lender UBS agreed to buy its beleaguered rival
Credit Suisse for $3.23 billion over the weekend.
British banks climbed 1.0% in early trading,
with Barclays among the top gainers, last up 2.5%.
Weakness in the pound also aided the exporter-heavy FTSE 100. Investor focus would now shift towards the U.S. Federal Reserve as the two-day monetary policy meeting begins later today. The more domestically-focussed FTSE 250 midcap index added 0.9%. Among individual stocks, home improvement retailer Kingfisher rose 1.3% after reporting its full-year earnings. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann Thoppil)
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