Sector movers: Big gains for banks

Financials were leading the way on Thursday on hopes of a solution to the sovereign debt crisis in Europe. European leaders agreed a new aid package for Greece and an overhaul of the Eurozone sovereign rescue fund. Among the proposals are a reduction in debt burdens on Greece, Portugal and Ireland. Banking peers Barclays soared over 9.4% higher at 15:45 in the afternoon to trade at 243.55p. Lloyds and RBS were both posting strong gains of 6.6%.Meanwhile, Scottish & Southern Energy (SSE) was providing a drag on the electricity sector after lifting gas and electricity tariffs. SSE became the latest of the "big six" utility groups to warn of higher tariffs, saying it will increase household electricity prices by an average of 11% and household gas prices by 18% from 14 September. The FTSE 100 firm saw shares fall by 1.62% to 1,400p.IPSA Group, the AIM-quoted power generator, sank nearly 20%, a day after its shares nearly doubled. The firm announced on Wednesday that it had agreed to sell four of its turbines to Singapore-based Bright Day and private equity firm Bridgehouse Capital for a total of about £41m.BCTop performing sectors so far todayBanks 4,341.28 +3.40%Life Insurance 4,351.01 +3.36%Insurance (non-life) 1,637.49 +2.13%General Retailers 1,683.69 +1.68%Pharmaceuticals & Biotechnology 9,667.96 +1.55%Bottom performing sectors so far todayElectricity 8,701.37 -1.59%Forestry & Paper 6,586.69 -1.13%Technology Hardware & Equipment 764.94 -0.71%Software & Computer Services 727.88 -0.21%Real Estate Investment Trusts 2,274.88 -0.15%