FTSE Moves: London market holds onto record gains buoyed by Lloyds returning to private hands

Blue chip shares held on to the gains made during its record close, buoyed by Lloyds Banking Group returning to the private sector eight years after it was saved by the taxpayer.

Lloyds Bank said the government will see a return of £21.2bn on its investment, after it pumped in £20.3bn at the height of the financial crisis for a 43% stake in the business.

The FTSE 100 Index slipped 0.8 points to 7521.3 in afternoon trading, after top flight shares closed at an all-time high of 7522 in the previous session, buoyed by rises among a broad range of consumer-focused companies. The FTSE 250 Index fell 23.4 19852.5.

IG chief market analyst at Chris Beauchamp said: "The government made a profit on its Lloyds investment, and with dividends looking healthy it seems that private investors are convinced they can prosper too with the bank."

Shares in Lloyds were among the biggest risers in the top flight, lifting more than 2%, or 1.9p to 72p.

Royal Bank of Scotland, the other bailed-out bank still 73% owned by taxpayers, saw its shares slip 0.3p to 263p.

The biggest afternoon risers in the FTSE 100 Index were Fresnillo (+48p to 1611p), Lloyds Banking Group (+1.9p to 72p), Kingfisher (+8.6p to 366.8p), Hargreaves Lansdown (+26p to 1350p) and DCC (+140p to 7410p).

The biggest afternoon fallers in the FTSE 100 Index were British Land Company (-20p to 654p), Hikma Pharmaceuticals (-41p to 1725p), Ashtead Group (-27p to 1595p), Intu Properties (-3.7p to 269.8p) and Legal & General (-3.3p to 254p).

The biggest afternoon risers in the FTSE 250 Index were Sophos Group (+41.4p to 411.2p), SIG (+5.4p to 132.4p), Ferrexpo (+5.4p to 172.4p), Tullow Oil (+6.3p to 207.5p) and Aggreko (+19.5p to 861p).

The biggest afternoon fallers in the FTSE 250 Index were Mitchells & Butlers (-18.2p to 256.8p), Auto Trader Group (-18.2p to 401.1p), Dunelm Group (-22.5p to 593.5p), JD Wetherspoon (-28p to 1030p) and CYBG (-5.4p to 275.2p).