Falling bank stocks pull FTSE into red

The index fell more than 33 points, or 0.63%, to 5,237.94, as banks suffered. Lloyds was down 1.4%, Barclays was down 1.2% and HSBC slipped 0.9%. In a volatile morning session, the FTSE opened sharply higher but then dipped within minutes. This afternoon's losses come despite positive UK unemployment figures for June which show a decline in the number of people claiming jobless benefits. However the figures were offset by a negative report from Nationwide which suggests consumer morale fell to its gloomiest level in a year in June. The FTSE had been expected to climb higher i...