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Banks lead FTSE over 3 per cent lower

The FTSE 100 has closed 3.49 per cent lower at 3,763 with Barclays leading the heavy fallers.

The blue-chip index kicked off the day over 20 points lower at 3,877 on Friday’s close of 3,899 and by 9am had fallen to 3,800 with Barclays down almost 9 per cent to 158.80p.

Barclays’ refusal to join the Government’s toxic asset scheme saw the bank extend its losses closing over 14 per cent lower at 149.10p.

Other banks followed suit with Lloyds Banking Group finishing 14.85 per cent lower at 64.80p, Royal Bank of Scotland down 12.41 per cent to 23.30p and HSBC down 7.95 per cent to 370.50p.


Diverse reaction

Emerging markets have always been a favourite sector of mine for long-term investing. When my son was born in 1990, I started an emerging markets savings plan for him – just £20 a month to begin with. Nineteen years later, he has got a nice little nest egg despite several rough periods for those markets.My […]

Neutral ground

There has been somewhat of a stabilisation in European equities over the last month. In early March, markets dipped to a level 58 per cent below the 2007 high. Since then, they have bounced by 14.5 per cent and stand today around 6.5 per cent higher than one month ago.

Tiers for fears

Hannah Stodell analyses the prospects for a rebound in banks and financials, with some commentators saying the various levels of debtholdings could offer outstanding opportunities

Axa shuts office in protest fears

Axa is closing its Aldgate office in London on Wednesday and Thursday this week amid concerns over the G20 protests. Applications or correspondence that needs to be received by Friday must be sent to its Bristol address.


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