FTSE 100 movers: RBS litigation boost

19th Apr 2010 15:47

Part-nationalised bank Royal Bank of Scotland (RBS) is said to be one of the big losers from the activities of Goldman Sachs which the SEC is investigating for fraud. The UK and German authorities also intend to investigate the US investment bank. Press reports suggest that RBS lost £550m as a result of being sold collateralised debt obligations (CDOs) by the Wall Street investment banking firm. RBS could seek to claw back all, or some, of that loss if the SEC is successful with its charges. Bank of America Merrill Lynch has increased its price target for RBS, which has also helped to boost the share price. British Airways, TUI Travel and Thomas Cook are all lower because of the continued closure of airspace due to the volcanic eruption in Iceland. BA wants EU compensation to help with the additional financial burdens of the closure of airspace. BA says that it has lost £15m-£20m a day in lost passenger and freight revenues over the last five days. FTSE 100 - RisersRoyal Bank of Scotland Group (RBS) 50.50p +4.55%Autonomy Corporation (AU.) 1,778.00p +2.18%Lloyds Banking Group (LLOY) 65.65p +1.47%Associated British Foods (ABF) 961.50p +1.21%BT Group (BT.A) 132.60p +0.91%British American Tobacco (BATS) 2,164.50p +0.67%British Sky Broadcasting Group (BSY) 625.00p +0.64%Next (NXT) 2,283.00p +0.62%Randgold Resources (RRS) 5,150.00p +0.49%BAE Systems (BA.) 373.80p +0.46%FTSE 100 - FallersBritish Airways (BAY) 228.60p -2.72%Thomas Cook Group (TCG) 254.30p -2.60%Aviva (AV.) 379.60p -1.91%TUI Travel (TT.) 286.30p -1.85%Fresnillo (FRES) 827.50p -1.84%Land Securities Group (LAND) 661.50p -1.78%Old Mutual (OML) 118.50p -1.74%Kazakhmys (KAZ) 1,473.00p -1.67%Vedanta Resources (VED) 2,750.00p -1.65%Smiths Group (SMIN) 1,114.00p -1.42%