The benchmark FTSE 100 ended down 32.60 points today at 4,370.70 after UK stocks dropped, led by Royal Bank of Scotland and HSBC.
Banking stocks led today’s losses. HSBC lost 10p to 800p, and Royal Bank of Scotland Group shed 25p to 1,550p.
Abbey National dropped 4.25p to 483.5p after analysts at UBS cut their forecast for the lender’s stock to “reduce” from “neutral”.
Drug makers also droppedthis afternoon. AstraZeneca declined 15p to 2,440p, and GlaxoSmithKline dropped 11p to 1,094p.
Bradford & Bingley lost 3.5p to 264.5p after analysts at Citigroup cut their recommendation to “hold” from “buy”.
In the meantime, oil giant BP rose 4p to 486.5p.
Marks & Spencer Group lost half a penny to 359p.
British Sky Broadcasting Group fell 6.5p to 607.5p. The pay television business has announced that Jeremy Darroch, currently group finance director at Dixons Group, will become its chief financial officer.
William Hill dropped 14.5p to 532p despite saying that first-half earnings will meet analysts' estimates for the year.
Overseas, the Dow Jones Industrial Average index so far has lost about 79 points to 10,204.
The S&P 500 index is down just over 11 points to 1,114 and Nasdaq's Composite index has so far lost nearly 46 points to 1,961.IFAonline
What made financial headlines over the weekend?
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch