London’s top flight index ended the month on a positive note today after shrugging off worse-than-expected US growth figures and big losses at the Royal Bank of Scotland.
The FTSE 100 closed up 34.9 points at 6,360.8, despite a 7% fall in shares at part-nationalised Royal Bank of Scotland after it revealed its fifth year of losses since being bailed out by the taxpayer.
Although underlying results showed a near doubling in operating profits at RBS, shares were down 22.9p to 323.9p amid fears over subdued prospects in the UK.
Outsourcing group Capita also saw its shares fall 24.5p to 823.5p, despite achieving record sales for 2012 of £3.3billion.
British Airways parent company International Airlines Group was the biggest riser in the top flight after operating losses of £58.8million came in better than its guidance of £103.7million in November. The 8% rally, up 17.5p to 239.2p, came despite bottom-line losses of £862million due to the cost of restructuring ailing Spanish flag carrier Iberia.
In the FTSE 250 Index, National Express leapt 13% – up 24.7p to 220p – buoyed by a positive outlook after recent contract wins in Spain, North America and Germany.
The biggest FTSE 100 risers included ITV ahead 5.2p to 124.2p, GKN 8.8p higher at 273p and Standard Life up 10.6p to 352.5p.
Among the biggest FTSE 100 fallers were Kazakhmys down 58p to 619p and Petrofac down 43p to £14.54.
Steven McKay, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted Hunting rose 2.2% to 868p and Aberdeen Asset Management closed the day 0.7% higher at 429.9p.
Among the day’s fallers, Wood Group slipped 0.8% to 768p and BP fell 0.3% to 445.7p.