Banking stocks suffered massive losses today, contributing to the FTSE100's 1.78% loss, as the index closed at 5723.30, down 104 points.
HBOS, Alliance & Leceister and RBS were among the five biggest losers, with HBOS dropping a massive 11.64%. The company’s shares have now fallen below the price of its upcoming rights issue – 275p – closing the day at 258p amid mounting fears concerning the state of the UK housing market. Alliance & Leceister dropped 8.41% following reports that the bank is to exit the FTSE100 index. First Group, the UK commercial property find manager, was among the day’s biggest winners, rising by 2.49% to 515.50p, after reports that its full-year profit rose almost fourfold on performance fees from it...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
