Banks lead a decline in the FTSE 100 in early trading this morning, as the index struggles to maintain yesterday's rally on the back of G20 news, decreasing 20.03 points, or 0.61%, to 4099.94.
HSBC Holdings is the biggest loser so far, slumping 3.87%, with Lloyds Banking Group shedding 2.48%. All eyes will be on RBS as the troubled bank holds its AGM later today. It has already announced plans to cut more than 2,700 jobs in a bid to reduce annual costs by £2.5bn in the next three years. Chemicals company Johnson Matthey has gained 3.36%, while utilities company Pennon Group added 1.05%. In the US, the Dow Jones rose 216.48 or 2.79% last night, buoyant from G20 news $1tr will be ploughed into the world economy. Caterpillar and General Motors led the way with gains of 8.80% a...
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