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FTSE drops below 4,300

The FTSE 100 fell below 4,300 this morning with UK banks under renewed pressure.

By 11.48am, the index was 1.1 per cent lower at 4,279 with Barclays down 2.2 per cent at 271p, Lloyds Banking Group down 1.3 per cent at 68.40p and Royal Bank of Scotland down 1.1 per cent.

Life insurers also suffered losses with Prudential down 3.3 per cent at 399.25p, Standard Life down 1.5 per cent at 178.70p and Friends Provident dipping 1.2 per cent to 71.40p.

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