FTSE 100 steady in morning trading as RBS soars despite losses
FTSE 100 steady in morning trading as RBS soars despite losses
Thursday 25th February 2010
The FTSE 100 remained flat in morning trading on Thursday with Royal Bank of Scotland posting significant gains despite announcing losses of £3.6 billion last year.At 09:54 GMT the London index stood at 5,345.68 - a rise of 2.76 points or 0.05 per cent.
RBS led the gains, up 5.95 per cent to 38.28p, following the news it would still be paying out £1.3 billion in staff bonuses.
The bank's £3.6 billion loss in 2009 was actually considerably less than the £24.3 billion posted in 2008.
Lloyds Banking Group also posted strong gains of 2.92 per cent, to 55.05p, on Thursday morning.
British American Tobacco suffered the biggest slump in the morning, slipping 2.02 per cent.
Capita Group and Randgold Resources also fell 1.88 per cent and 1.64 per cent.
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