Banks lead the FTSE 100, with some lenders setting new monthly highs
Banks are helping to bolster a reasonably flat FTSE 100 today.
Banking mainstays Barclays and HSBC are both among the five greatest risers this morning, while shares in Lloyds, RBS and Standard Chartered are up as well.
Barclays is currently up 2.4 per cent at 173.25p, HSBC is up 1.8 per cent at 567.7p, Lloyds is up 1.5 per cent at 59.73p, RBS is up 1.4 per cent at 202.8p and Standard Chartered is up 1.2 per cent at 640.3p.
Barclays, HSBC, RBS and Lloyds are also currently trading at their highest point in the last month, although Standard Chartered hit a peak of 668.2p when the market closed on 9 August.
Outside the FTSE 100 index, challenger bank Aldermore is also enjoying gains this morning, up 2.7 per cent at 164.6p.
Read more: Berkeley and housing stocks risk being evicted from FTSE 100 index
However, it hasn't been so rosy for banks recently. The UK's decision to divorce itself from the EU in June sent shockwaves through the markets and many banks saw their share price plunge in the days that followed. For example, Barclays shares closed at 127.2p on 27 June and Lloyds at 51.2p.
Share prices also took a dip earlier this month when the Financial Conduct Authority revealed it was extending the deadline for payment protection, meaning banks could still be shelling out compensation six months later than they had planned.
Barclays' gains today trail only slightly behind Berkeley Group, which is currently up three per cent at 2,673p, although the housebuilder is due to be dropped from the blue chip index, after its shares sank following the Brexit vote.