- UK stocks rounded out the week strongly as a better-than-expected profit result from RBS and gains in oil stocks offset weakness in the mining sector.

The benchmark FTSE 100 index closed 18.53 points, or 0.3%, higher on Friday at 7,505.03, boosted by gains in BP (BP) and Shell (RDSA) of 1.1% and 0.8%, respectively.

Royal Bank of Scotland (RBS) was the latest bank to issue quarterly results and its figures were better received than Lloyds' (LLOY) and Barclays' (BARC) earlier this week.

While RBS's operating pre-tax profit of £871m was a great improvement on the £225m profit made a year before, the figure was still some way off its previous quarter figure of £1.2bn.

Its shares added 1.9% to 286.46p, while Barclays climbed 0.7% and HSBC gained 0.5%.

U.S. markets were also having a bright day on Friday following a well-received earnings result from Amazon. In late morning trade, the S&P 500 was up 0.6%, the Dow Jones Industrial Average was up 0.1% and the tech-laden Nasdaq had surged 1.8%.


Shifting the attention back to UK stocks, British Airways-owner International Consolidated Airlines (IAG) descended 4.1% to 642.36p on its third quarter figures. The airline increased its operating profit to €1.5bn in the three month period from €1.2bn on a year-on-year basis. Its revenue per available seat kilometre rose by a more modest 0.7% to €6.69.

Tullow Oil (TLW) slumped by 4.1% to 174.87p on news its Araku-1 well in offshore Suriname failed to make a commercial discovery.

Big mining stocks fell, led by lower by copper play Antofagasta (ANTO), which lost 2.6% to 961.27p.

Specialty chemicals firm Elementis (ELM) advanced 3.0% to 288.53p after saying it had performed in line with expectations during the third quarter of its financial year.

Technology company Laird (LRD) jumped 3.0% to 156.73p after growing its revenue by 19% to £245m in the third quarter to 30 September.


Long suffering support services company Carillion (CLLN) rose 4.0% to 46.0p after appointing Andrew Davies as chief executive. He is currently the boss of privately-owned engineering firm Wates.

On the AIM market, media company System1 (SYS1:AIM) collapsed by 22% to 402p after saying half year pre-tax profit had fallen by 70% to £0.85m. Story provided by