Shares in British banks were up on the FTSE 100 in morning trading following what appeared to be positive comments on the euro by the vice premier of China.

Banking stocks have struggled in recent weeks thanks to renewed concern about sovereign debt in the eurozone.

Today however the Chinese vice premier said that China would support the EU in its efforts to ease the concerns of global markets about the euro.

By 10:45 shares in Lloyds Banking Group were up 1.54 per cent to 67.90 pence per share, RBS shares increased 2.96 per cent to 39.60 pence per share, Barclays shares rose 1.97 per cent to 266.15 pence per share and HSBC shares climbed 0.90 per cent to 662.70 pence per share.

Overall the FTSE 100 was up 0.78 per cent to 5,937.37.

China Barclays HSBC FTSE