FTSE gives up positive start

The FTSE 100 Index surrendered a positive start today after a broker downgrade for Lloyds Banking Group sparked a fresh slump in banking shares.

Tue, 07 Apr, 2009 - 12:49

The FTSE 100 Index surrendered a positive start today after a broker downgrade for Lloyds Banking Group sparked a fresh slump in banking shares.

Lloyds was down 8% or 6.5p to 73.2p after Credit Suisse lowered Lloyds to underperform and Royal Bank of Scotland confirmed it was now 70% in the hands of the British government.

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