FTSE plummets below 5,000 again
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The FTSE 100 fell below 5,000 for the second time in three trading days as fears that the eurozone crisis would spread resurfaced.
At 12.09pm, the blue chip index stood at 4937.70, a fall of 2.6 per cent. The French Cac 40 and the German Dax had also fallen by 2.8 and 2.4 per cent respectively.
Lloyds Banking Group led the falls in the FTSE 100 with its share price dropping 8.67 per cent.
One of the factors increasing pessimism in Europe was news over the weekend that Spanish bank Cajasur was rescued by Bank of Spain.
Tensions between North and South Korea also prompted Asian shares to fall overnight, with Japanese stocks down 3.1 per cent and South Korean stocks falling 2.7 per cent. The concerns follow international investigators blaming the North for the sinking of a South Korean warship in March, which killed 46 sailors.
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