The UK stock markets are tentatively waiting for the chancellor's pre-election Budget speech later today before making any significant moves, as the FTSE 100 is already down under the 5,000 mark again this morning.
The FTSE 100 index is currently down around 31 points or 0.6% to 4,696, led by several major banking and financial services groups and tobacco firm Gallaher, as it is anticipated the financial groups could see profit margins affected by tax in the Budget. Aviva is currently down 16p or 2.34% to 668p while Lloyds TSB has dropped 25p or 4.92% to 483p, Prudential has lost 9p or 1.79% to 495p and Royal & SunAlliance has fallen 2.25p or 2.67% to 82p. Similarly, HBOS is 19.5p or 2.28% lower at 835p. Gallaher, the tobacco producer, is also down 25.5p or 3.26% to 756p as cigarettes are lik...
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