Index rocked by RBS losses

London’s top-flight index slipped further into the red yesterday as investors punished the Royal Bank of Scotland (RBS) after its ninthconsecutive year of losses.

The FTSE 100 Index closeddown27.67 points at 7,243.7, with RBS the biggest faller on the market after the shares slid more than 4%, or 11.2p to 238.2p.

Airlines were in the ascendancy as investors cheered results from British Airways ( BA) ownerInternational Airl i nes Group ( IAG), which grew profits last year despite a blow from the Brexit-hit pound.

IAG, which also owns Aer Lingus and Iberia, wasupmorethan 4%, or 22.5p to £5.27 after it said pre-tax profits rose more than 30% to £2billion in the year to December 31, 2016.

The group’s revenue fell by 1.3% to £19.1billion, with Brexit also hitting demand at BA.

warned ticket Shares in easyJet also rose, by 17p to 931.5p.