View more on these topics

FTSE 100 slumps to 4-year low

The FTSE 100 index has fallen 7.85 per cent today, closing at 4,589, a low last seen in September 2004.

Share falls were led by ailing mortgage lender HBOS which fell over 16 per cent since open of trade to 169p with Lloyds TSB also down 9.3 per cent to 263p and Royal Bank of Scotland down 17.5 per cent to 154p per share.

Markets slid across the globe with heavy sell offs as concerns heightened over governmental rescue plans needed to ease the spread of financial contagion.

In the UK, Chancellor Alistair Darling is under increased pressure to implement a tax payer-funded recapitalisation of Britain’s banks as support grows for an effective part-nationalisation of the sector.


When life throws you lemmings

“Why the long face?” I asked the managing director of Huxley Epsilon, the self-proclaimed future of financial advice, as I walked into his office. “I mean, of course, beyond the obvious horridness of world markets and the general uncertainty of whether every major bank we’ve ever heard of is, on a day-by-day basis, going to stick, nationalise or fold.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm