The FTSE100 is poised to dip under 6,000 this morning after some major losses to banking stocks in early trading. The index is currently 53.10 points (0.88%) lower to 6,000.40.
Gloomy news from mortgage bank Bradford & Bingley has smashed HBOS, down 8.19% to 367.25 so far.
Compatriot Alliance & Leicester is not faring too much better, currently sitting 6.41% lower to 398.
The London Stock Exchange Group is also falling as Morgan Stanley cut the price target on the exchange, down 4.24% to 983.50.
Asset manager Schroders is faring well on opening however, its non-voting stock is currently 2.41% ahead to 933.
BHP Billiton and Rio Tinto are leading another strong start for miners, up 1.78% to 1948 and 1.55% to 6149 respectively.
In New York, the Dow Jones IA finished slightly in the red on Friday on weaker consumer spending figures. The blue chip index closed the week down 7.90 points (0.06) to 12638.32.
In Tokyo, Japanese stocks started where they left off last week by climbing to their highest level for 2008 on Monday. The Nikkei 225 index jumped 101.60 yen (0.71%) to 14,440.14.
Elsewhere in Asia/Pacific, Hong Kong’s Hang Seng lifted 268.32 points (1.09%) to 24,801.44 and Sydney’s S&P/ASX 200 finished 7.60 points (0.13%) to 5,662.30.IFAonline
Chris St John to take over £3bn UK Select Opps
The majority of financial advisers (85%) believe the number of self-invested personal pension (SIPP) providers will continue to fall in the coming year, according to Dentons Pension Management research.
Short-term noise or something sinister?