From City AM:
Trading in bank shares was suspended this morning as the value of UK lenders tumbled in response to the vote to leave the EU.
Financial giants Barclays and Royal Bank of Scotland (RBS) both fell more than ten per cent by mid-morning as markets increasingly turn on stocks perceived to most at risk from prolonged uncertainty over the UK's relationship with Europe.
The fall was so steep at the FTSE 100 banks it triggered circuit breakers on the London Stock Exchange, which automatically bring trading to a five minute halt if a stock falls by more than eight per cent from its opening price.Barclays is currently down 10 per cent on Friday's close at 138p, while RBS is down by 14 per cent. The fall follows sharp losses of around 20 per cent for both banks during trading on Friday.
And speaking of the 250 (market caps 101 to 350 on the list), FT Alphaville points to:
Sure, the FTSE 100, that non-barometer of corporate health in the UK, was down another 1.35 per cent at pixel — off 83 points at 6054. And there are some big falls amongst some well known constituents: M&S and Next are down circa 15 per cent apiece, for instance.
But Brexit reaction is most visible in an index more truly representative of domestically-focused British business. So take a look at the FTSE Mid 250: