Bank and mining stocks lift FTSE

The FTSE 100 Index closed up 30.4 points at 4417.9

The London market looked set to end an uncertain week on the front foot, helped by a rally for banking and mining stocks.

A surprise bounce in May house prices from the Nationwide and hopes for better-than-expected US GDP figures later in the day boosted sentiment.

Investors have been on the sidelines for most of the week, but returned to the fray to lift the FTSE 100 Index 60.2 points to 4447.8 in the first hour.

One of the biggest gains of the session came from Randgold Resources, which climbed 187p to 4575p, while Barclays added 5p to 292p and Lloyds Banking Group cheered 0.3p to 65.3p.

The 1.2% rise in Nationwide house prices lifted housebuilders, with Taylor Wimpey up 2p at 31.25p, Persimmon 15.5p stronger at 361p and Redrow 8.25p higher at 198.25p.

Broadcaster ITV was also high up the FTSE 250 risers board after the OFT advised the Competition Commission to consider changes to the regulatory regime introduced in the wake of ITV's creation from the merger of Carlton and Granada in 2003.

Shares jumped 4% or 1.75p to 38.75p.

There was also a gain of 1.5p to 16.5p for Moss Bros after the menswear chain reported an improved trend for sales in recent weeks.