Financial services firms rise on FTSE 100

<p>Financial services companies in the UK have made gains on the FTSE 100.</p>

Financial services companies have seen their shares jump on the FTSE 100 in London today (January 21st), after one organisation revealed such firms' profits increased in the three months to December.

According to a survey by the Confederation of British Industry (CBI) and PwC, profits rebounded to +23 per cent levels following the previous quarter's fall of -6 per cent.

Companies are more optimistic about 2013, with the sentiment score rising to +27 per cent, while growth in volumes is also expected (+34 per cent).

However, business volumes slumped across all customer categories, with financial institutions losing the most according to the report's -21 per cent figure.

CBI director for competitive markets Matthew Fell said: "There is rising concern that staff shortages are likely to limit business and investment over the next year, as well as the challenge of raising finance.”

At 12:25 GMT, Admiral, Aviva and Royal Bank of Scotland all made gains on the FTSE 100, with Admiral rallying by five per cent to 1213.00p, while Aviva and RBS shares advanced to 374.40p and 365.50p respectively.

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