RBS share slump leads to FTSE fall

Royal Bank of Scotland shares slumped 13% today after weaker-than-expected results exploded the recent mood of optimism in the bank sector.

RBS share slump leads to FTSE fall
Fri, 07 Aug, 2009 - 12:40

Royal Bank of Scotland shares slumped 13% today after weaker-than-expected results exploded the recent mood of optimism in the bank sector.

The state-owned firm also reported £7.5 billion of bad debts as chief executive Stephen Hester warned the recovery will take some time.

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CourtsBusinessHeathrowPlace: USPlace: Severn TrentPerson: Stephen HesterPerson: John LewisOrganisation: RBSOrganisation: FTSEOrganisation: Royal Bank of ScotlandOrganisation: XstrataOrganisation: Rio TintoOrganisation: United UtilitiesOrganisation: Scottish & Southern EnergyOrganisation: VodafoneOrganisation: Lloyds Banking GroupOrganisation: LloydsOrganisation: BarclaysOrganisation: HSBCOrganisation: Marks & Spencer
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