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FTSE slips with banks lower

The FTSE 100 opened at 4,436 today and dropped as low as 4,405 in early trades with banks and miners amongst the hardest hit.

By 1.03pm, the index was 0.14 per cent down at 4,429.

Barclays was down 5 per cent to 272.75p, Royal Bank of Scotland was down 3.9 per cent to 44.30p and Lloyds Banking Group had lost 6 per cent to 93.30p.

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Reforming India: just the beginning

By Kunal Desai, Neptune India Fund

As global investors continue to scour emerging markets through the lens of reform potential, India shines bright. Indeed, we think it can sparkle even brighter. We anticipate India’s self-imposed 10-year ‘policy holiday’ to turn into one of the most pro-growth and pro-investment policy calendars seen in Asia in years. The Indian electorate has engineered a historic verdict. We now have the strongest Indian government since 1984, with the pro-market Bharatiya Janata Party (BJP) achieving an absolute majority for the first time in the party’s history.

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