Strong economic data from the States pushed markets higher on Friday, with the banks benefitting from the bullish mood.

UK banking heavyweights Barclays and HSBC were among the best performers on the FTSE 100 in afternoon trade.

Barclays hit the headlines on Thursday night after its Chief Executive Antony Jenkins was reported to have told investors that some 40,000 jobs - equal to around 28% of the entire workforce - would be scrapped from the group.

The Financial Times cited a person present at a recent shareholder meeting as saying that Jenkins said that goal would be a 10-year target.

Shares were up 2.4% at 317.5p before the close of trade.

Meanwhile, HSBC, up 2.1% at 733.1p, was benefitting from some upbeat comments from Nomura today, which said that the company has strong cost-control momentum, improving revenue outlook and a decent capital position.

The broker kept its 'buy' rating for the stock, saying that HSBC's current valuation implies a growth premium of 1.0% yet the company is expected to grow revenue by at least 5.0% for the next few years.

Sector peers Lloyds and Standard Chartered were also making gains this afternoon.

Top performing sectors so far today
Industrial Metals & Mining 2,695.78 +4.75%
Mobile Telecommunications 4,277.43 +2.56%
Banks 5,084.67 +1.94%
Electronic & Electrical Equipment 4,249.40 +1.09%
Forestry & Paper 9,597.28 +0.96%

Bottom performing sectors so far today
Software & Computer Services 1,067.32 -0.95%
General Industrials 3,883.80 -0.69%
Gas, Water & Multiutilities 5,494.23 -0.52%
Health Care Equipment & Services 4,067.78 -0.29%
Household Goods & Home Construction 9,740.35 -0.24%

BC

Related share prices
Barclays (BARC) share price
HSBC Holdings (HSBA) share price
Lloyds Banking Group (LLOY) share price
Standard Chartered (STAN) share price