FTSE up despite heavy Lloyds losses

Lloyds Banking Group's fell by 26.62% with its share price standing at 47.7 p as at 3.09pm. Barclays lost 12.2% with its share price standing at 77.2 p. The falls came after both stocks had registered gains in the morning. It suggests that that the market is not confident about the prospects for success of the UK government's rescue package, which involves a scheme to insure banks against tens of billions of pounds of unexpected losses on potentially toxic assets. With concerns about the state of financials, the FTSE 100 was down 11.72 points (0.29%) to 4096.75 as at 3.29pm. Meanwhile...