FTSE lower over banking costs
The leading UK share index was lower on Monday as concerns over the estimated cost of implementing the changes to the banks worried investors. As the session came to a close, the FTSE 100 was lower by 0.4 per cent, dropping over 22 points to finish at 5364.
Chris Bradshaw
shareprices.com - Monday, December 19, 2011
The Chancellor announced that banks would have to adopt the majority of the measures proposed by the ICB, at a possible cost to the industry of around £8 billion, causing the sector to plummet. The firms will be required to separate their operations as well as increase their financial cushion, a move designed to prevent some catastrophic consequences if the economy takes a turn for the worse again.
Unsurprisingly bankers were amongst the heaviest fallers of the day, with Lloyds Banking Group the biggest faller, shedding 4.22 per cent. Just behind in third place was Barclays who lost 3.21 per cent, whilst Royal Bank of Scotland was in fourth place as it saw 3 per cent wiped off its price.
At the other end of the leaderboard, one of the top risers in the FTSE 100 was temporary power supplier Aggreko who added 1.71 per cent. The company saw its stocks in demand after it announced that it expected to slightly outperform its predictions, despite already having upped its forecast twice during 2011.
In other international news, many international markets are keeping one eye on North Korea following the death of leader Kim Jong-Il. Although his death was not entirely unexpected, concerns have been raised about the volatility of the country now it has lost its influential head.
Latest News
- FTSE climbs as EU summit approaches
22 May 2012 - FTSE climbs as markets calm
22 May 2012 - FTSE falls further as ratings agency action worsens fears
20 May 2012
Related News
FTSE 100 Latest
| Value | Change |
| 5,403.28 | 98.80  |
Create a Watch List 
Track your favourite stocks
Create & monitor portfolios
Daily portfolio value
News
- FTSE climbs as EU summit approaches
22 May 2012 - FTSE climbs as markets calm
22 May 2012 - FTSE falls further as ratings agency action worsens fears
20 May 2012 - FTSE plummets further as Greece dominates markets
17 May 2012 - Greek crisis continues to pressure markets
16 May 2012 - FTSE plunges further as Greece heads for the polls...again
15 May 2012 - FTSE nosedives over Greece concerns
15 May 2012 - Late surge for FTSE to finish in the blue
14 May 2012 - FTSE breaks losing streak; aid reached Greece
10 May 2012 - FTSE crashes further over Greek uncertainty
9 May 2012
