FTSE almost static

Investors in the British banking sector were spared more misery today after Royal Bank of Scotland posted better-than-expected losses of £3.6bn (4.08bn) for 2009.

RBS shares rose 6% following the results, while Lloyds Banking Group improved 3% during an otherwise lacklustre session for the FTSE 100 Index, which stood less than one point higher at 5343.5.