Mining rally pushes European shares to three-week highs

viernes 26 de febrero de 2016 05:29 GYT

* FTSEurofirst 300 index extends Thursday's rally

* Miners among top gainers as metals prices up

* RBS shares slump after "disappointing" results

By Atul Prakash

LONDON, Feb 26 (Reuters) - European equities extended the previous session's strong rally to a three-week high on Friday, with stronger miners on the back of firmer metals prices and some encouraging company updates supporting the market.

However, state-backed Royal Bank of Scotland slumped more than 7 percent after reporting its eighth straight full-year loss of 1.97 billion pounds ($2.75 billion) as it continued to be weighed down by restructuring and litigation costs.

Jefferies analysts called RBS results "disappointing".

Miners topped the leaderboard, with the STOXX Europe 600 Basic Resources index gaining 3.2 percent following sharp gains in the prices of key industrial metals such as copper and aluminium.

Shares in Glencore, BHP Billiton and Rio Tinto rose 4.3 to 6.4 percent, helping the pan-European FTSEurofirst 300 index to gain 1.8 percent.   Continuación...