* FTSE 100 edges up 0.2 pct, near 1-month highs
* Miners recover after rebound in copper price
* RBS slumps after Q1 results
By Sudip Kar-Gupta
LONDON, May 3 Britain's benchmark equity index
edged higher on Friday to put it within sight of one-month
peaks, with the market led by a recovery in major mining stocks
after a rebound in the price of copper.
The blue-chip FTSE 100 index crept up by 0.2
percent, or 9.49 points, to 6,470.20 points at mid-session.
Mining stocks dominated the FTSE leaderboard, with ENRC
rising 6 percent after the recovery in copper.
The FTSE 350 industrial metals sector has
fallen nearly 40 percent since the start of 2013 as signs of a
slowdown in global economic growth have raised fears of lower
demand for commodities and metals.
But some traders have sought to buy badly-beaten mining
stocks - which are among the most volatile in the UK market -
when they fall, before then selling them at a profit when they
recover on any sign of a rebound in metals prices.
"Generally, the miners are on a slide, but there is value
there," said Hartmann Capital trader Basil Petrides.
Part-nationalised British bank Royal Bank of Scotland
slumped 5.6 percent to the bottom of the FTSE 100 after
posting worse-than-expected operating profits, leading Investec
to cut its rating on RBS to "sell" from "hold".
U.S. non-farm payrolls data later on Friday is likely to
determine the near-term direction of the market, with economists
in a Reuters poll forecasting 145,000 jobs were added in
EGR Broking managing director Kyri Kangellaris said U.S.
jobs data that beat forecasts could push the FTSE back above the
6,500 point level, while worse-than-expected data could send it
back down to the 6,200 point level.
(Additional reporting by Toni Vorobyova; Editing by Catherine