Britain's top shares fell sharply on Monday after the results of stress tests on European banks were met with disappointment over their credibility while investors were also fearful over the threat of a U.S. default on the nation's debt.
The banking sector index sunk to a two-year low as money managers and traders cast doubts over whether the stress test results, released on Friday, were stringent enough.:
Lloyds Banking Group , Barclays , and Royal Bank of Scotland were at the top of the blue-chip fallers' list, off 7.5 percent, 7 percent, and 6 percent respectively.
Eight European banks -- five in Spain, two in Greece and one in Austria -- failed the test of their ability to withstand a long recession and will have to raise just 2.5 billion euros ($3.5 billion) of capital, significantly less than expected.
Expectations were for five to 15 banks to fall short with a need to raise 10 billion euros or more in
FTSE 100 - Risers
Fresnillo (FRES) 1,659.00p +2.09%
Randgold Resources Ltd. (RRS) 5,560.00p +1.74%
ARM Holdings (ARM) 569.00p +0.89%
British Sky Broadcasting Group (BSY) 713.50p +0.56%
Shire Plc (SHP) 2,075.00p +0.53%
Centrica (CNA) 318.50p +0.35%
Autonomy Corporation (AU.) 1,730.00p +0.35%
British Land Co (BLND) 604.50p 0.00%
Severn Trent (SVT) 1,427.00p -0.07%
Imperial Tobacco Group (IMT) 2,148.00p -0.09%
FTSE 100 - Fallers
Lloyds Banking Group (LLOY) 41.34p -7.47%
Barclays (BARC) 207.65p -7.01%
Royal Bank of Scotland Group (RBS) 32.97p -6.04%
GKN (GKN) 227.90p -4.64%
ITV (ITV) 63.65p -4.57%
IMI (IMI) 1,037.00p -4.51%
Resolution Ltd. (RSL) 265.00p -4.44%
Old Mutual (OML) 125.50p -4.34%
Man Group (EMG) 231.00p -4.23%
Cairn Energy (CNE) 371.50p -4.10%
FTSE 250 - Risers
Centamin Egypt Ltd. (CEY) 141.50p +4.20%
Dixons Retail (DXNS) 15.89p +3.92%
African Barrick Gold (ABG) 472.30p +3.71%
PZ Cussons (PZC) 370.00p +2.75%
Hochschild Mining (HOC) 509.50p +2.64%
Rank Group (RNK) 153.70p +1.79%
Daejan Holdings (DJAN) 2,954.00p +1.51%
Computacenter (CCC) 471.00p +0.94%
BH Macro Ltd. EUR Shares (BHME) € 17.10 +0.83%
UK Commercial Property Trust (UKCM) 80.00p +0.63%
FTSE 250 - Fallers
Inchcape (INCH) 373.80p -8.18%
Punch Taverns (PUB) 66.85p -5.98%
Ashtead Group (AHT) 155.70p -5.92%
TUI Travel (TT.) 178.20p -5.86%
Kenmare Resources (KMR) 53.25p -5.75%
IG Group Holdings (IGG) 411.40p -5.43%
Thomas Cook Group (TCG) 67.00p -4.90%
easyJet (EZJ) 301.00p -4.84%
Howden Joinery Group (HWDN) 104.60p -4.82%
Bwin.party Digital Entertainment (BPTY) 132.30p -4.82%
FTSE TechMARK - Risers
Skyepharma (SKP) 44.50p +3.49%
Timeweave (TMW) 27.00p +3.35%
Ceva Inc. (CVA) 1,750.00p +2.94%
Filtronic (FTC) 25.50p +1.49%
Optos (OPTS) 164.50p +0.92%
AEA Technology Group (AAT) 3.45p +0.73%
Xaar (XAR) 276.00p +0.73%
Phytopharm (PYM) 7.80p +0.65%
Antisoma (ASM) 2.58p +0.19%
Kewill (KWL) 100.88p +0.12%
FTSE TechMARK - Fallers
Vectura Group (VEC) 91.00p -5.21%
CML Microsystems (CML) 216.00p -5.05%
DRS Data & Research Services (DRS) 20.00p -4.76%
Promethean World (PRW) 61.50p -4.28%
E2V Technologies (E2V) 123.75p -4.26%
Torotrak (TRK) 53.25p -3.18%
Emblaze Ltd. (BLZ) 59.12p -2.87%
Ark Therapeutics Group (AKT) 4.75p -2.56%
Vernalis (VER) 38.50p -2.53%
Wolfson Microelectronics (WLF) 163.50p -2.53% For the latest updates PRESS CTR + D or visit Stock Market news Today
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