From Citywirie's Wealth Manager:
The sell-off in banking stocks since the start of the year shows no signs of slowing, with a fresh slump in financials weighing on the FTSE 100.
The UK blue-chip index fell 56 points, or 0.1%, to 5,866 with banks among the biggest fallers. They included Standard Chartered (STAN), down 4.4% at 413.8p, Barclays (BARC), which dropped 4.3% at 166.4p and HSBC (HSBA), 3.2% lower at 452.7p. Lloyds (LLOY) fell 2.2% to 60.6p.
Banks have been among the worst hit by the market sell-off since the turn of the year, with the FTSE 350 Banking index down by more than 17% since 1 January.
They have been badly hurt by global growth fears, while a disappointing trading statement from RBS has sparked fears ahead of their reporting season, which kicks off later this month....MORE