Part-nationalised banks led declines on the FTSE in late Tuesday trading amid concerns about what the Government plans to do with its stakes in them after the General Election.
The FTSE fell sharply after lunch, down 45.54 points, or 0.8%, to 5,665.09, dragged down by RBS, Lloyds, and Barclays, which all fell more than 3%. Shares in RBS took one of the biggest hits, down 1.61p, or 3.6%, to 43.17p per share. The price of shares in Lloyds Banking Group also dropped, down 2.15p, or 3.4%, to 61.1p a share, and shares in Barclays Plc fell 11.55p, or 3.15%, to 355.3p. It has been a bad day for financials in general. The big news was fund manager Gartmore's suspension of high profile fund manager Guillaume Rambourg, pending the outcome of an internal investig...
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