Reuters: Hot Stocks: Britain's FTSE advances on Cyprus deal, banks gain

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Britain's FTSE advances on Cyprus deal, banks gain Mar 25th 2013, 08:09 LONDON, March 25 | Mon Mar 25, 2013 4:09am EDT LONDON, March 25 (Reuters) - Britain's top share index advanced in early trading on Monday, with sentiment improving after Cyprus reached a deal with international lenders for a 10 billion euro bailout. Cyprus, which had the risk of a collapse of its banking system, will shut down its second largest bank, Popular Bank of Cyprus, and inflict heavy losses on uninsured depositors. At 0805 GMT, the FTSE 100 index was 32.09 points higher, or up 0.5 percent, at 6,424.59, after falling 1.5 percent last week, the biggest weekly drop since November. Banks were on demand, with Barclays, Lloyds and Royal Bank of Scotland rising 1.9 to 3.2 percent. Aberdeen Asset Management gained 2.9 percent after saying it pulled in 3.5 billion pounds ($5.3 billion) of net new money in the first two months of the year, as clients rushed to gain access to rallying stock markets. (Reporting by Atul Prakash)

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