London markets sharply down after German move

October 6th, 2008 - 3:55 pm ICT by IANS  

London, Oct 6 (DPA) The Financial Times Index plunged by 4.5 percent in London Monday as leading bank shares were also down following unease about Germany’s move to guarantee all private savings, analysts said.The FTSE-100 index was down 225.70 points at 4,754.55 within an hour of opening.

Shares in mortgage lender Halifax Bank of Scotland (HBOS) plunged by 15 percent, reflecting ongoing unease about the takeover deal sealed with Lloyds TSB 10 days ago.

The Royal Bank of Scotland (RBS) also appeared vulnerable, with its share price down by 10 percent.

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