Lloyds lifts FTSE 100 after MBNA deal

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Shares in Lloyds helped to lift the London market after the bank bought the MBNA credit card business.

Lloyds Banking Group was up 2.8%, the biggest riser on the FTSE 100, after it announced the £1.9bn deal to buy MBNA, its first acquisition since the financial crisis in 2008.

Shortly before midday, the FTSE 100 index was up 11.71 points at 7,028.87.

Shares in housebuilders were higher, with Barratt Developments up 1.9% and Persimmon rising 1.2%.

Precious metal miners Fresnillo and Randgold Resources were both down more than 1% as the price of gold fell.

On the currency markets, the pound fell 0.4% against the dollar to $1.2349, and was 0,2% lower against the euro at €1.1895.

by BBC Economy