British finance giant Lloyds Banking Group today announced a deal worth up to £35.4m (€38.6m) to offload part of its private client fund management business.

The FTSE 100 Index dipped into negative territory today after poor earnings from US groups General Electric and Bank of America knocked investor confidence.

Lloyds Banking Group today said up to 460 full and part-time jobs would go after it agreed to sell its Halifax Estate Agencies division for £1 (€1.09).

The London market fell back below the 5200 mark today amid falls for retailers and concerns over US earnings reports.