The FTSE 100 closed for the day, off its earlier lows, down 7.98 points or 0.11%, at 7,244.41, while the FTSE 250 closed in the opposite direction, ending the day up 64.99 points or 0.33% at 19,801.05.
Chris Beauchamp at IG said: "While the FTSE 100 suffers, US and European markets are looking more robust. However, the hope of strong gains for US markets is dimmed by the knowledge of the late-day selloff that has hobbled Wall Street over the past two [email protected]
The Royal Bank of Scotland PLC (LON:RBS) closed down 4.82% or 13.60p at 268.40p after its latest financial results, which recorded its first full year profit since the height of the financial crisis in 2008.
The bank however said that it has yet to agree with the US Department of Justice over alleged mis-selling of mortgage-backed securities.
British Airways owner IAG PLC (LON:IAG) announced a new share buyback, a bullish 2018 outlook and raised its dividend but this failed to stir investor interest. Its shares closed down 35.40p or 5.69% to 587.20p.
On a positive note, BT was a strong gainer, closing up 5.04% at 244.05p, after telecoms operator Ofcom eased up on price controls on its Openreach subsidary.
The EURO STOXX 50 closed up 0.28% while CAC 40 ended up 0.15% and the DAX was up 0.18%.
The Dow Jones was trading 0.70% higher at 25,138.08. The S&P 500 gained 0.97% to 2,727 and the Nasdaq added 1.08% at 6,835.40.
Wall Street equities got off on the front foot as trading got underway in New York, though it hasn't put any pep in the FTSE 100's step.
The FTSE 100 was down 17 points or 0.24% trading at 7,235, whereas the FTSE 350 increased by 24 points or 0.12% at 19,758.
Changing hands at 25,099, the Dow Jones advanced 136 points or 0.55%. The S&P 500 gained 0.56% to 2,719 and the 0.56% added 7,250.
With less than four trading sessions remaining until the next revision to the FTSE 100 there's the potential for Royal Mail Group Plc (LON:RMG) to rejoin the index of London's top 100 shares.
"It looks like Hammerson will need a strong set of full-year figures on Monday 26th to spark a major share price run to save its FTSE 100 status which dates back to summer 2005," said Russ Mould, AJ Bell investment director.
"Meanwhile, the Royal Mail would be making a speedy return after just six months down in the FTSE 250. If the company's promotion is confirmed next week, boss Moya Greene would take the total of female FTSE 100 chief executives back to (just) seven."
He described Royal Mail's recent share price performance as "a stunning run" and point to the mail firm's dividend as a key attraction for investors.
"If the dividend yield has been one source of support for the stock, another has been the settlement of pay, pensions and working conditions with the Communication Workers Union, a deal which headed off strike threats and also helped Royal Mail to manage its pension liabilities," Mould added.
At 2:30 pm, the FTSE 100 was down 14 points or 0.19% changing hands at 7,236.
The FTSE 100 stayed lower through the morning and by midday was down 15 points or 0.21% changing hands at 7,237.
Traders are now beginning to look to Wall Street, hoping for a catalyst.
"Futures prices, however, suggest a positive open for Wall St this afternoon, building on yesterday's gains after the Fed's Bullard suggested four rate hikes might be too much this year, calming recent fears of the Fed over-tightening policy," said Mike van Dulken, head of research at Accendo Markets.
With just under two and a half hours to go until the New York open commentators are calling the Dow Jones up around 200 points, while the Nasdaq and S&P 500 are also expected to begin the session positively.
Bitcoin and cryptocurrencies rallied on Friday, after yesterday's slump though digital currency experts reckon the relief may not last particularly long.
The price of Bitcoin was up US$370 or US$3.76 trading at US$10,200, meanwhile, Ethereum advanced further still rising by US$62.33 or 7.65% changing hands at US$877.
Elsewhere, the Ripple XRP token gained 2.78% to trade at US$1.00 and the Litcoin digital currency climbed 3.35% to US$211.23.
Heading into the mid-morning the FTSE 100 was down 17 points or 0.24%, changing hands at 7,234, with Royal Bank of Scotland Plc (LON:RBS) and British Airways owner IAG Plc (LON:IAG) the main trading features, with both stocks in the red.
RBS slumped 4.5%, trading at 12.8p, as financial results failed to impress investors.
The bailed out bank reported its first full year profit since the height of the financial crisis in 2008, but, also noted that it is facing a hefty fine from the US Department of Justice over claims it miss-sold mortgage-backed securities.
IAG PLC (LON:IAG) was another high profile loser, down 30p or 4.85% to 592p, despite the positive pitch from the airline as it reported on 2017.
IAG announced a new share buyback, increased dividend and a bullish outlook for 2018. Operating profits rose by 19% to ?,?3.02bn and Wilie Walsh, chief executive, said all four of its airlines - British Airways, Iberia, Aer Lingus and Vueling - performed 'extremely well' with record results.
Outside the big blue-chips Righmove Plc (LON:RMV) shares were on front foot as it delivers revenue, earnings and dividend growth
Bookmaker William Hill plc (LON:WMH) shares started 1.6% lower, trading at 325.8p, as impairments pulled the bookmaker to a full year loss despite 7% revenue in the 52 weeks ended December 26.
Beyond the blue-chip corporate news, there aren't many big steers for equities and investors continue to keep one eye on Wall Street.
"After yesterday's late slide in the US saw markets there close a little mixed today's US open looks set to be a positive one as the bi-polar nature of market sentiment continues to drive price moves in an erratic fashion," said Michael Hewson, analyst at CMC Markets.
He added: "With little in the way of data on the ticket today US markets are still in the red for the week and it will take something fairly substantive to push them above last weeks peaks."
The FTSE 100 is continuing its losing streak, opening lower on Friday with Royal Bank of Scotland Plc (LON:RBS) the early stand-out. The index of London's top 100 shares was down 12 points or 0.17% to 7,239.
Investors were selling RBS shares despite the fact that the bailed-out bank has just reported its first full year profit since the height of the financial crisis in 2008, but, also noted that it is facing a hefty fine from the US Department of Justice over claims it mis-sold mortgage-backed securities
The bank's shares were down nearly 4% changing hands at 271.3p.
Elsewhere, British Airways owner IAG PLC (LON:IAG) was another high profile loser, down 19.8p or 3.31% to 602p, despite the positive pitch from the airline as it reported on 2017.
IAG announced a new share buyback, increased dividend and a bullish outlook for 2018. Operating profits rose by 19% to ?,?3.02bn and Wilie Walsh, chief executive, said all four of its airlines - British Airways, Iberia, Aer Lingus and Vueling - performed 'extremely well' with record results.
Bookmaker William Hill plc (LON:WMH) shares started 1.6% lower, trading at 325.8p, as impairments pulled the bookmaker to a full year loss despite 7% revenue in the 52 weeks ended December 26.
Mineral sands producer Base Resources Ltd (LON:BSE, ASX:BSE) posted a 466% increase in net profit in the latest half year as it increased mining volumes and grades at its key Kwale operation in Kenya.
Tungsten mine developer W Resources PLC (LON:WRES) has inked two major long-term offtake agreements for product from its La Parrilla project in Spain. The first is with Wolfram Bergbau und H? 1/4 tten AG (WBH), which is the largest tungsten processing company in Europe and the second is directly with a leading supplier to the USA tungsten markets.
US Oil and Gas Plc (LON:USOP) updated on progress in Nevada, where it is preparing to drill two new wells in Hot Creek valley.
ECR Minerals PLC (LON:ECR) has informed investors that its subsidiary, Mercator Gold Australia, has renewed exploration licence EL5433 in Central Victoria has been extended for five years. The licence is host to the Bailieston gold exploration project, and it now expires in March 27.
StatPro Group PLC (LON:SOG) announced that it has acquired the remaining shareholding in Infovest Consulting (Pty) Ltd, a South African software provider specialising in ETL and reporting software for the asset management industry. The AIM-listed provider of cloud-based portfolio analysis and asset pricing services said in a statement that it had acquired the remaining 27.3% shareholding in Infovest for ZAR30.4mln ( ?1.9mln) in cash.
Mporium Group PLC (LON:MPM), the technology firm delivering event-driven marketing, announced that on 23 February 2018, its chief executive officer, Nelius De Groot was granted an option over 8mln ordinary shares exercisable at a price of 8p each. In a separate statement, the group also announced the appointment of Nicholas Bertolotti as a non-executive director of the company.
BB Healthcare Trust PLC (LON:BBH) announced that Josephine Dixon will temporarily step down as chair of the company's Audit Committee with immediate effect due to health reasons but will remain on the board. It said Randeep Grewal will become interim chair of the Audit Committee whilst Josephine recuperates.
Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) (TSX-V:EOG), the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, announced it has been recognized as a 2018 TSX Venture 50?,,? company, an annual ranking of top-performing companies on the TSX Venture Exchange over the last year.
Harvest Minerals Limited (LON:HMI), the AIM listed fertiliser development company announced that an updated version of its corporate presentation is now available on the company's website at www.harvestminerals.net.
Lombard Risk Management plc (LON:LRM) announced that, in association with its recommended cash takeover by Vermeg Group NV, the proposed cancellation of trading on AIM will occur 24 hours later than previously notified, now at 7.00 a.m. (London time) on 27 February 2018.
FTSE 100 is expected to continue the losing trend as the week ends and start lower.
It comes despite a mainly higher close on Wall Street as rate rise fears easer and a positive session overnight in Asia.
Britain's blue chip index closed out Thursday down around 29 points at 7,252, but spreadbetter IG Index is calling it to start around ten points lower than that at the open.
Volatility has been the theme of markets in recent weeks, and the recent US crash brought about a sharp rise in the CBOE Volatility Index (VIX). The question for analysts is whether this is a trend that is ending or starting.
On Wall Street the Dow Jones and S&P 500 index closed higher but the Nasdaq lost over eight points, while later in Asia the Nikkei 225 surged 148 points at 21,884 and the Shanghai Composite index is up around nine at the time of writing.
In London, it's been a week for banking results , which culminates today in the release of state-owned lender Royal Bank of Scotland Group PLC (LON:RBS) release its full-year numbers.
Barclays (LON:BARC) has been a stand-out story and closed over 4% up yesterday as its full year results cheered, despite the swing to a loss.
For RBS , there faint potential for the bank, bailed out in the 2008 crash, to reach a watershed.
After a decade of making losses, it is teetering on the brink of being back in the black, having posted profits of ?1.3bn for the first nine months of 2017.
But analysts are pencilling in ?2.2bn of conduct charges in the fourth quarter, which is expected to push it into a loss of ?592mln, its tenth consecutive year in the red.
Finals: Royal Bank of Scotland Group PLC (LON:RBS), International Consolidated Airlines Group PLC (LON:IAG), Standard Life Aberdeen PLC (LON:SLA), Pearson plc (LON:PSON), William Hill plc (LON:WMH), Rightmove PLC (LON:RMV), Afarak Group PLC (LON:AFRK)