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09:00GMT 06Nov2009-RBS up 4 pct as results, bad debts reassure

Shares in Royal Bank of Scotland rise as much as 4 percent, outperforming a 1.5 percent rise for its European peers, after the bank more than halves operating losses in third quarter versus the previous three months and offers a few shreds of comfort in relation to bad debts.
Analysts at Cazenove point to "slightly more positive commentary on impairment" although they note that the group's outlook is still cautious overall.
Analysts at Nomura note that impairments on bad loans, at 3.3 billion pounds, were lower than their 3.9 billion pound estimate: "We currently have flat impairment charges in our 2010 estimates. However, some may be disappointed that the company has not yet signalled the potential for declines."
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09:00GMT 06Nov2009-Antofagasta higher; Citi upgrades

Shares in Antofagasta gain 1.6 percent, leading rallying blue chip miners higher as Citigroup ups its rating to "buy" for "hold" for the Chilean copper firm in a review looking at laggards in the sector.
Citigroup also hikes its rating for mid cap metals firm Ferrexpo to "buy" from "hold", with its shares up 2.2 percent, and makes the same move for Norwegian aluminium group Norsk Hydro, which is up 1.5 percent.
The broker points out that base metals have outperformed in the year-to-date and it expects more gradual price rises over the next year, with the transition to OECD recovery the key challenge.
"We now take a short term preference for the bulks and also turn more positive on aluminium following recent underperformance. Copper, platinum and coking coal remain our preferred structural plays," Citigroup says.

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08:49GMT 06Nov2009-Irish banks up, bad bank law progresses

Shares in Ireland's two biggest banks rise by up to 10 percent after the lower house of parliament passes a law establishing a 54 billion euro ($80.2 billion) "bad bank" to the upper house and following share rises in the United States.
Some traders say strong performance of Irish banks' American Depository Receipts (ADRs) in the United States after the close of business in Europe on Thursday is the main reason behind the strength of Bank of Ireland and Allied Irish Banks shares.
Some also cite a newspaper report that Ireland's financial regulator has reiterated its ban on the short-selling of bank shares.
"The (short selling ban) reminder to the market comes after a particularly volatile period for the bank share prices," brokerage Bloxham says in a note.
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08:44GMT 06Nov2009-BA takes off on above forecast results

Shares in British Airways rise 4.9 percent, topping the FTSE 100 gainers' list, after the airline posts a better-than-exppected pretax loss of 292 million pounds in the first-half.
Broker BofA Merrill Lynch, which has a "buy" recommendation on the stock, says the latest data shows an encouraging trend in airline's traffic numbers and notes that the carrier sees premium class yields slowly improving.
"We think the current low valuation (30 percent discount to historical average) does not discount potential revenue recovery and possible cost savings," the brokers analysts write in a note.
BofA Merrill Lynch says merger and acquisition-related synergies would be a further positive for British Airways if deals such as the alliance with Spain's Iberia are agreed.
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08:36GMT 06Nov2009-FTSE small caps up 0.2 pct at the open

The FTSE Small Cap Index rises 0.2 percent in early trade, outperforming London's blue chip index, which is flat, while the FTSE 250 up 0.2 percent.
Rok rises 9 percent, extending the previous session gains after the building maintenance firm reported that it expects full-year forecasts to meet its expectations.

British document-handling firm Mavinwood Plc sinks more than 18 percent after announcing discussions relating to the potential disposal of Peter Cox Limited have now been terminated. The company also says its operations are currently experiencing mixed trading conditions. Reuters Messaging rm://david.brett.reuters.com@reuters.net

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