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RBS plunges as London rises for second day

RBS GogarburnFri: Shares rose for a second session amid brighter prospects in commodities, though Royal Bank of Scotland shares plunged 8% in early trade and were set for their biggest daily loss since June 2012.

The state-backed bank reported its eighth straight full-year loss and said past mistakes would rule out dividends until 2017.

Mining stocks rose, with Glencore, BHP Billiton and Rio Tinto all up between 2 to 5% after the price of copper firmed with the focus shifting to a G20 meeting in Shanghai.

Education and media company Pearson was among the top risers after posting results in line with analysts’ expectations, and saying that its restructuring should deliver profit at or above £800 million in 2018.

The FTSE 100 was up 95pts at 6,107 near the close.

 

 

 

 

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