
Lloyds continues dive as nationalisation fears mount

Further selling of financials characterised London's leading stock exchange on Monday with the index down more than 24 points, or 0.6%, to 4,164.
After a torrid day on Friday when its shares fell as much as 40%, pessimism over the future of Lloyds Banking Group saw its value fall by 7.2 points (11.73%) with each share worth 54.2p.
Barclays and Royal Bank of Scotland have also fared badly this morning. Barclays' share price dropped by 7.2 points (7.16%) while Royal Bank of Scotland Group's value decreased by 0.9 points (4.13%).
Autonomy Corporation was the FTSE 100's biggest winner with its share price rising by 17 points (1.4%).
Amid news Japan's economy shrank at an annual 12.7% pace last quarter, the most since the 1974 oil shock, the Nikkei 225 Stock average fell 0.4% at the close in Tokyo, extending the year's losses to 13%.
The value of stocks traded in Tokyo was the second-lowest for a full trading day this year, ahead of a holiday in the U.S.
The yen rose to 91.59 per dollar from 91.76 on speculation Japan will refrain from taking measures to weaken the currency. The yen's 18% gain over the past year has compounded exporters' woes by eroding the value of their overseas sales.
In the US, further selling of financials characterised the Dow Jones on Friday as concerns mounted over the Obama administration's ability to shore up the banking sector. The index ended the day down by 82.35 points (1.04%) to reach 7,850.41.
JPMorgan Chase was the largest loser on Friday with its share price falling by 1.5 points (5.73%). This was closely followed by Bank of America, which fell by 0.3 points (5.11%).
IFAonlineMore news
Bruno Schroder passes away aged 86
Spent 56 years at Schroders
GAM fires suspended Haywood for 'gross misconduct'
Warns on profits
FCA fines Hargreave Hale and R&M over IPO misconduct scandal while Newton given immunity
Hargreave Hale seeking legal advice