Lloyds revelation sends FTSE into the red

The London market continued its grim week today after worse than expected results from Lloyds Banking Group sparked losses for financial stocks.

Lloyds revelation sends FTSE into the red
Thu, 05 May, 2011 - 18:29

The London market continued its grim week today after worse than expected results from Lloyds Banking Group sparked losses for financial stocks.

The FTSE 100 Index closed down 64.1 points at 5920 after the part-nationalised bank shocked analysts by setting aside up to £3.2bn (€3.6bn) to pay compensation to customers mis-sold payment protection insurance.

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