FTSE 100 falls, banks in focus

Source: Dukascopy Bank
British FTSE 100 index tumbled 0.9% on Monday, driven by financial shares after G-20 delayed aid to Europe and recommended region to expand its own financial firewall before borrowing from outside. Essar Energy PLC fell 9.5% after reporting a USD 881.1 million pre-tax loss for year 2011. HSBC lost 3.8% after heavyweight financial institution posted USD 21.9 billion pre-tax profit, slightly worse figure than expected. RBS and Lloyds each slumped 3.3% on news both lenders are planning to tap around EUR 15 billion from ECB. At the moment of writing FTSE 100 trades 0.94% or 55.56 points down at 5,879.54. 

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