Apr 28, 2017

Barclays pulls FTSE 100 lower

Pre-tax profit for the first three months of the year jumped to £1.682bn, from £793m a year earlier. Shares in Royal Bank of Scotland were having a better day, rising 1.7%, after it reported its first quarterly profit since third quarter of 2015. RBS posted profits of £259m in the first three months of 2017, compared with a £968m loss a year earlier. Rising copper prices boosted shares in mining companies, with Antofagasta, BHP Billiton and Rio Tinto all up by more than 2%. In the FTSE 250, shares in transport group Stagecoach fell 3.25% after HSBC cut its rating on the company to "Reduce" from "Hold". Sterling was lower against the euro, down 0.3% at 1.1837 euros.

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