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FTSE slides in early trading

The FTSE 100 opened at 3,904, over 25 points lower on the previous session as further losses continued in the banking sector.

By 11am, the index was still down 0.87 per cent to 3,898 but by 2.20pm, it was back up to 3,929.

Banks stocks gained some ground in the afternoon with Barclays up 1.5 per cent to 160.40p and Lloyds Banking Group up 1 per cent to 73.60p but Royal Bank of Scotland remained down 1.1 per cent to 26.40p and HSBC down 0.45 per cent down to 440p.

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