European stocks closed higher today, although well off earlier highs as British banks slid after Lloyds Banking Group posted a big loss at its HBOS unit, according to Reuters. The pan-European FTSEurofirst 300 index of top shares was 0.6 percent higher at 796.5 points after peaking at 811.45 earlier in the day. Lloyds slumped 32.4 percent after it said its HBOS subsidiary lost about 8.5 billion pounds ($12.28 billion) last year, while its Lloyds TSB unit made a profit of about 1.3 billion pounds. Life insurers were also in the doldrums. Aviva, Aegon and Prudential were down 2.2 percent to 6.3 percent. Across Europe, the FTSE 100 index was down 0.3 percent, Germany's DAX was up 0.1 percent and France's CAC 40 was 1.1 percent higher. Energy stocks were the top risers on the index. French energy group Total gained 1.5 percent and Royal Dutch Shell rose 2.2 percent as crude gained 5.8 percent to trade at just under $36 a barrel.
