FTSE 100

Shares in oil giant BP shot higher this morning, lifting the wider market, after the group pleased investors by raising its dividend.

Some of the largest multi-asset funds in the UK retail space have seen performance slump in recent months after they struggled to navigate a difficult summer.

The Chancellor George Osborne is expected to step back from plans to break-up the Royal Bank of Scotland (RBS) amid an expected outcry from some shareholders.

The FTSE 100 opened above 6,700 on Friday as a pick-up in Chinese manufacturing data boosted mining stocks.

Shares in Aberdeen Asset Management have jumped more than 5% in afternoon trading, after the group confirmed it is in talks to acquire Scottish Widows Investment Partnership (SWIP).

Fidelity Worldwide Investments' global CIO for equities, Dominic Rossi, has predicted the FTSE 100 will test a new high as accommodative central banks keep monetary policy loose and rates low into 2014.

Shares in the Royal Bank of Scotland have slumped in morning trading after Chancellor George Osborne said a break-up of the semi state-owned lender could take place "within weeks".

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SPECIAL REPORT

The price of Royal Mail shares has soared well above the government's offer price after conditional trading in the company began this morning.