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STOCKS NEWS EUROPE-RBS gains; results, bad debts reassure

Fri Nov 6, 2009 4:16am EST

Stocks

   

Shares in Royal Bank of Scotland (RBS.L) rise as much as 4 percent, outperforming a 1.5 percent rise for its European peers .SX7P, 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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Reuters messaging rm://paul.hoskins.reuters.com@reuters.net


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