News Tag: sell-offs

November 3, 2009

FTSE 100 falls below 5,000 mark

by Kay Murchie
The UK's FTSE 100 share index fell below the 5,000 mark today due to the overhaul of the UK’s banking sector. At 11:42 am, London’s FTSE 100 index was 111.56 points lower at 4,992.94, dipping below the 5,000 level for the first time since early October. Earlier today, the Treasury confirmed plans for Royal Bank of Scotland (RBS) and Lloyds Banking Group ...

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Treasury confirms RBS and Lloyds sell-offs

by Kay Murchie
A major overhaul of the UK banking industry has been confirmed by the Treasury today with plans for Royal Bank of Scotland (RBS) and Lloyds Banking Group to sell off bank branches. The shake-up comes as the Government hopes to create more competition within the industry. The Government holds a 70% stake in RBS and a 43% stake in Lloyds after last autumn’s ...

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