Today's note from Barclays that it is putting aside more money to cover bad debts has hammered the e...
Today's note from Barclays that it is putting aside more money to cover bad debts has hammered the entire banking sector, helping drag the FTSE 100 index down 78.90 points to close at 4,075.40.
Falls in US stocks didn't help the London market either, as Nokia warned sales of mobile phones would grow just 10% instead of 15% next year, dragging tech and telecoms stocks down in New York and pushing Vodafone down 4.5p to 119.25p here.
Schroders non-voting stock led the losers with a 11% or 59p slump to 480p after analysts predicted the company is going to report another year without profit when it reports tomorrow.
HBOS lost 35p to 672.5p, RBOS lost 79p to £15.51, and Barclays lost 19p to 433p.
Instead it was a good day for defensive sin stocks.
BAE Systems led the gainers with a 7.25p gain to 176.75p after a flurry of news about possible income from existing and future defense products.
Gallaher gained 17.5p to 579p and Imperial Tobacco rose 19p to 938p.
And Diageo improved 8.5p to 665.5p after news it is still in talks to sell off its Burger King business.
MyTravel shed 3p to 26.75p after Lehman Bros. downgraded its earnings outlook on the company, leading the FTSE 250 index down 51.3 points to 4,522.7 by the close.
Questions over the benefits of new contracts pushed software and services firm Misys down 23.25p to 217.5p.
CMG and Logica, in the process of merging, both dropped - down 7p to 81.75p and down 14p to 140p respectively.
Capital Radio has bounded 27.5p to 560p on renewed bid speculation.
In the US the Dow Jones Industrial Average index is currently down 115 points at 8,745.
What made financial headlines over the weekend?
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch