HBOS cash call under severe pressure - papers 12 June

Shares dived through the 275p level at which the Halifax and Bank of Scotland group is trying to convince its shareholders to support a rights issue it needs to bolster its capital base. The shares ended the day at 258p, down almost 12%. Other bank shares also touched new lows. Royal Bank of Scotland, which issued a subdued trading statement yesterday, ended at 212.2p, down 9% and barely above the 200p at which its rights issue, which ended last week, was priced. Alliance & Leicester ended 8% lower and Barclays was 4% down. The Financial Services Authority, which is investigating possible...