Shares fall after Lloyds bid referred

Lloyds TSB and Abbey National are under pressure on the London Stock Exchange after Trade Secretary Stephen Byers referred Lloyds' proposed takeover bid to the Competition Commission.

Minutes after the decision, Abbey National is down 3%, a drop of 36p to £11.03, while Lloyds TSB is down 12p to 630p, a fall of nearly 2%.