Shares in British banks were up on the FTSE 100 in morning trading as investors continued to buy after last week's panic sell offs.

War in Libya, natural disaster and possible nuclear meltdown in Japan and a possible euro bailout for Portugal all helped bring an atmosphere of gloom to investors last week and prompted a degree of panic selling.

Since Friday however investors seem to have been returning to their senses with banking shares recovering from last week's losses.

By 10:00 shares in Lloyds Banking Group were up 0.99 per cent to 61.35 pence per share, RBS shares increased 2.63 per cent to 42.48 pence per share, Barclays shares rose 1.33 per cent to 293.35 pence per share and HSBC shares climbed 0.16 per cent to 634.80 pence per share.

Overall the FTSE 100 was up 0.22 per cent to 5,798.58.

Barclays HSBC FTSE Portugal