FTSE up almost 1.5%

Lloyds Banking Group missed out on a rally for the wider London market today after the part-nationalised bank posted a £6.3bn (€7.05bn) annual loss.

FTSE up almost 1.5%
Fri, 26 Feb, 2010 - 18:20

Lloyds Banking Group missed out on a rally for the wider London market today after the part-nationalised bank posted a £6.3bn (€7.05bn) annual loss.

Shares in the bank - 41% owned by the taxpayer - slid more than 4% or 2.4p to 52.5p after it racked up a staggering £24bn (€26.8bn) in bad debts, mainly stemming from rescued bank HBOS.

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