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END-OF-DAY REPORT: Headline shares ended a range-bound session modestly higher, with sentiment dampened by news that US unemployment rose above 10% in October, with flag carrier British Airways surging despite reporting record losses.
At the close of play, the FTSE100 was up 17.08 points at 5,142.72 with the FTSE250 ahead 62.29 points at 9,082.69 and the FTSE Smallcaps 2.19 points lower at 2,778.63.
NEW YORK
US stocks were slightly lower in late morning trade, following news that unemployment rose to the highest level in over 26 years in October.
Approaching the close in London, the Dow Jones Industrial Average was down 19 points at 9,987, the S&P500 fell 2 points at 1,065 and the Nasdaq Composite dropped 3 points to 2,102.
LONDON MARKETS
Financial issues made modest progress, following reports from Royal Bank of Scotland of a Q3 operating loss of 1.525bn, down from 3.533bn in Q2. Core business operating profit was 1.193bn and pre-impairment profit, adjusted for fair value of own debt, improved to 2.2bn.
Shares in RBS rose 1.85p at 37.06p, while Lloyds Banking Group added 1.81p at 84.8p, benefiting from an upgrade to buy at Citigroup with a target price of 104p. Barclays gained 4.15p at 336.5p and HSBC added 13.8p at 683.3p.
Selected insurers also moved ahead, with Resolution the best of them, up 1p at 96p, with Prudential ahead 5p at 578p and Legal & General gaining 0.4p at 79.8p.
Fund managers were in demand as investors revisited yesterday's upbeat news from Man Group. Schroders advanced 25p to 1,126p and Man Group added 4.7p at 329.5p, helped by an upgrade to buy from add at Numis.
Shares in British banks rose on the FTSE 100 in morning trading following positive news on the Greek debt crisis.
Unite, the union, has gone to international unions, in its attempts to bring the...
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