FTSE closes at 5489.2

A sharp slide in oil prices helped the FTSE 100 Index close 11.7 points higher at 5489.2.

Oil slipped below $114 a barrel to boost blue chips in late session trading.

Royal Bank of Scotland rose 7.5p to 240.5p after fears of £1 billion-plus losses were not realised in its interim results.

The rest of the sector was mixed, with Barclays off 8.5p to 366.5p and Halifax Bank of Scotland falling 2.5p to 332.25p.

Lloyds TSB fell 0.75p to 318p and HSBC climbed 16p to 858.5p.

But it was travel firms and airlines that stole the show, with Thomas Cook and British Airways up more than 7 per cent, up 17p at 237.25p and 20.75p to 275.75p respectively. TUI Travel lifted 17p to 237.5p.

Miners dominated the fallers board, with Kazakhmys the biggest loser, off 6 per cent or 86p to 1248p.

Vodafone managed to shrug off a broker downgrade, which had at one point caused the group to fall more than 1 per cent, to close up 0.95p at 140.3p.

An upgrade from Goldman for Marks & Spencer supplier Northern Foods caused the company's share price to lift 9 per cent or 4.75p to 60p.

Winners: British Airways up 20.75p at 275.75p, Thomas Cook ahead 17p at 237.25p, TUI Travel up 17p at 237.5p and Schroders up 64p at 1070p.

Losers: Kazakhmys down 86p at 1248p, Ferrexpo off 15.75p at 260.25p, Vedanta Resources down 91p at 1765p and Xstrata down 154p at 2990p.

© Independent Television News Limited 2008. All rights reserved.