FTSE 100 index up 0.4%; easyJet shares pressured, CEO to leave By Sarah Turner, MarketWatch LONDON (MarketWatch) -- London shares edged higher on Wednesday, as gains from Standard Chartered and HSBC Holdings lifted the banking sector ahead of details on government-spending plans. The FTSE 100 index (UK:UKX 5,236, +12.48, +0.24%) rose 0.4% to 5,244.01 and other European shares were also posting small gains. Read Europe Markets. Prime Minister Gordon Brown will outline his plan to reorder Britain's books on Wednesday in the pre-budget report. The pre-budget is traditionally used to lay out revenue plans in the coming financial year. This year's report is expected to include a direct tax on bankers' bonuses or a windfall tax on banks, according to reports. Read more on pre-budget. As well as the ongoing row over bonuses, banks have been in the spotlight of late amid worries about exposure to Dubai debt. Conglomerate Dubai World is seeking to restructure its debt, some of which is held by British banks. HSBC Holdings (UK:HSBA 705.70, +10.40, +1.50%) (HBC 57.12, -1.54, -2.63%) gained 1.7%, Standard Chartered (UK:STAN 1,493, +54.00, +3.76%) shares jumped 4.5%, Lloyds Banking Group (UK:LLOY 54.53, +0.74, +1.37%) shares were up 1.5% and Royal Bank of Scotland (UK:RBS 31.35, +0.83, +2.73%) climbed 3.8%. These lenders have agreed to reschedule Dubai World's debt, Zawya Dow Jones reported Wednesday, citing a report in Dubai's Al Bayan newspaper. Standard Chartered commented on Wednesday that it remains "watchful" of the credit environment, with developments in the United Arab Emirates in the early stages and fluid. Still, any impairment related to exposure in Dubai isn't expected to be material, the bank added, and it's currently tracking toward a strong performance in 2009. Read Standard Chartered story. Asset sales could be on the agenda for the sector as well, with Royal Bank of Scotland Group and Sempra Energy mulling the sale of the Stamford, Conn., commodities-trading business they jointly run, according to the Wall Street Journal. Early losses for the financial sector included a drop for shares of hedge-fund manager Man Group (UK:EMG 309.00, -8.30, -2.62%) after it said late Tuesday that the net asset value of the Man AHL Diversified Futures Fund fell 4.3% on the week and 6.1% on the year. Man Group shares were recently down 2.5%, paring earlier, steeper losses. Tesco (UK:TSCO 420.30, -5.35, -1.26%) shares extended losses from Tuesday when it reported a slowdown in comparable quarterly sales, losing about 1.1%. Barclays Wealth analysts cut their stance to neutral from buy. They said that "looking ahead to the immediate future, we do not foresee many clear share prices triggers on the horizon." Outside the top index, shares of low-cost airline easyJet (UK:EZJ 359.90, -17.60, -4.67%) fell 4.6%. Its chief executive officer, Andy Harrison, will leave company at the end of June. The board will make an announcement of a new appointment "in due course." EasyJet said it continues to trade in line with the comments made at its recent results announcement on Nov. 17. See easyJet story.

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