Banking stocks under FTSE pressure

Banking stocks came under further pressure on the London market today as Halifax Bank of Scotland revealed £1bn (€1.3bn) in writedowns and predicted a 9% fall in house prices.

Gains among energy-related firms and oil majors helped limit the impact on the wider FTSE 100 Index, which reversed earlier losses to stand 20.9 points higher at 5777.8 by mid-morning.