FTSE 100 index fluctuates on earnings reports

British FTSE 100 index traded higher on Thursday strongly affected by earnings reports. British American Tobacco gave up 1.2% despite reporting an 7.5% increase in its net profit for fiscal year 2011. Royal Bank of Scotland rallied 5% although lender reported twice as big as expected drop in 4th quarter profit. RBS also booked loss on its Greek sovereign debt. British index lost ground after EC revised down its economic growth expansion for Euro Area, predicting mild recession. At the moment of writing FTSE 100 index is 0.18% or 10.9 points up at 5,927.45.