FTSE loses over 1% on ex-dividend stocks

Life insurance and banking stocks suffered some of the major losses of the day, pushing the FTSE 100 index down 62 points or 1.25% to 4,937.6 after Lloyds TSB and HSBC went ex-dividend along with tobacco giant Gallaher. Having started the day badly, companies such as Aviva and Barclays ended the day lower, as both firms fell 24.5p or 3.58% to 659.5p and 12p or 2.09% to 561p respectively. Lloyds TSB suffered the biggest fall and closed down 33.75p or 6.64% to 474.25p while rival HBOS lost 24p or 3.86% to 821p, HSBC is down 24p or 2.8% to 832p and Royal & SunAlliance fell 3.5p or 4.15% ...