Flying financials stifled by late decline

At 3.20pm, London's blue chip index dived 19.49 points, or 0.50%, to 3,869.57. A downgrade from ratings agency Standard & Poor's has hit private equity group 3i, down 5.97% to 204.75. Rolls-Royce is among the worst performers after noting near-term troubles in helicopter engine sales. The auto giant is 5.61% lower to 277.50. BAE Systems is also behind, 4.14% down to 388.25. Financials are still leading the way this afternoon, with RBS 14% higher to 22.00 after it emerged the bank is ready to sell up to a quarter of its businesses. Insurers Legal & General and Friends Provident are...