RBS surges on profit jump as EU talks lift markets

London and European stock markets edged up as the G20 talks in Cannes continued on Friday, with Royal Bank of Scotland boosting the UK after climbing 5% on its profits update.

RBS, which has been heavily sold off during the turmoil, rose 4.2% to 23.8p in early trading as investors digested a jump in profits to £2bn. Profits were given a lift by an increase in the value of debt sitting on its balance sheet, with investors reacting favourably to the update. RBS led the wider market higher, with the FTSE 100 ahead 0.7%, or 36 points, to 5,581. In Europe shares were mixed, as talks on how to solve the debt crisis got back on track following the Greek referendum debacle. The German Dax shed early gains to trade down 8 points at 6,124 by mid-morning, while ...