Shares in British banks were broadly up on the FTSE 100 in morning trading as investors continued to show optimism about the state of the global economic recovery.

Last Friday the U.S. released positive jobs data, giving a boost to hopes that the global economic recovery may be progressing well.

Despite this there are still concerns that the eurozone may be on the verge of plunging into another sovereign debt crisis, with Portugal having rejected austerity measures that mean it is almost certain to receive a bailout like Greece and Ireland.

By 09:45 shares in Lloyds Banking Group were up 1.21 per cent to 60.34 pence per share, RBS shares rose 0.91 per cent to 42.05 pence per share and HSBC shares increased 0.86 per cent to 653.00 pence per share.

However Barclays shares declined 0.17 per cent to 286.25 pence per share.

Overall the FTSE 100 was up 0.16 per cent to 6,016.71.

Barclays HSBC FTSE Portugal