Morning Markets: RBS sales plan boosts FTSE

The FTSE 100 index rose by 0.7% to 5063.7 points in early trading led by Royal Bank of Scotland, which edged closer to significant asset sales.

RBS rose 3.3% to 42.8p after reports it has assembled a shortlist of buyers for £4bn of assets, including its commodities trading and payment processing arms. The sales were a quid pro quo with the European Commission to receive bail-out cash during the credit crunch. Elsewhere, Wolseley gained 2.8% to £15.67 after being upgraded to 'buy' by UBS. An announcement software manufacturer Autonomy Corporation is to acquire a portion of US rival CA Technologies sent Autonomy shares up 1.6% to £17.97. Meanwhile, embattled BP fell 2% to 400.7p after US President Barack Obama used an int...