Banking shares were in the ascent despite more grim revelations about the industry.

The Swiss bank agreed penalties of £940m to settle with global regulators after admitting to fraud and corrupt payments as it sought to manipulate Libor rates to flatter its own financial strength and reputation.

In a session when the FTSE 100 Index maintained its recent progress to stand 25.6 points higher at 5961.5, RBS was lifted 10.3p to 315.4p by an upgrade of the European banking sector by broker Credit Suisse. Lloyds Banking Group was also 2p higher at 49.2p and Barclays improved 5.4p to 266.5p.

Royal Bank of Scotland is thought to be within weeks of announcing its own settlement, but its shares were unaffected by the size of the penalty, which was in line with previous City speculation.

In the currency markets, the pound was close to its highest levels against the US dollar this year at 1.62, after the Bank of England gave no signs of more quantiative easing - also described as money printing.

Policymakers described the gradual appreciation of sterling as a potential "headwind" to the ability of UK exporters to benefit from a rebound in global growth. The pound was down against the euro at 1.22.

The biggest FTSE 100 risers were CRH up 57p to 1224p, Admiral ahead 52p to

1199p, Lloyds Banking Group 2p higher at 49.2p and International Consolidated Airlines up 7.8p to 188.5p.

The biggest FTSE 100 fallers were Bunzel down 46p to 1020p, British American Tobacco off 81p to 3095p, Rio Tinto 61.5p lower at 3506p and United Utilities down 11.5p to 688p.