Spain concerns hit UK bank stocks

Britain’s biggest banks saw shares slide today as fears over the eurozone debt crisis were compounded by a far-reaching debt downgrade of Spanish banks.

Barclays fell 3.6p to 178.3p, Royal Bank of Scotland was off 0.6p at 20.4p and Lloyds Banking Group dropped 1.1p to 26.5p after Moody’s Investor Service cut the credit ratings of 16 Spanish lenders, including the UK arm of Banco Santander.