FTSE lower on US and Asian sell-off

HBOS has lost the most ground following release of its trading statement which outlined a further £1bn first half write-down. The lender is 6.04% down to 299.50. Fellow lender Alliance & Leicester is also lower, dipping 4.03% to 309.75. Fuel reliant cruise liner operator Carnival is struggling as oil prices closed near $137 yesterday. It is 3.71% behind to 1659. The high crude costs continue to boost the oil majors, with Cairn Energy 3.01% higher to 3319. Oil and gas group BG is also higher, up 2.35% to 1263. Bus and rail operator FirstGroup is also having a good morning, sitting 2.64% ...