Live FTSE 100 skids to 2-week low on poor earnings but gold nears four month high as European political worries persist.

Gold rose by 0.4pc to $1,254.10 per ounce, its highest level since November 11. Political uncertainties have also triggered continuous inflows into gold exchange traded funds (ETFs)

RBS reports £7bn annual loss, as bank stays in red for ninth consecutive year.

Royal Bank of Scotland has slumped to a £7bn loss and warned of further job cuts and branch closures before it is able to post its first profit since the financial crisis.

The lender, which remains 72pc owned by the the taxpayer, fell to its ninth annual consecutive loss last year, taking its total losses since the credit crunch to almost £60bn, after it suffered a £5.9bn hit from litigation and conduct costs and a £2.1bn restructuring charge.

It said it aims to return to profit in 2018 but not before it suffers another loss this year, which would mean the bank has spent a decade in the red source http://www.telegraph.co.uk/

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