The FTSE 100 has dived below 3,700 this morning as the banking sector slides on HSBC's plans to rais...
The FTSE 100 has dived below 3,700 this morning as the banking sector slides on HSBC's plans to raise £12.5bn from investors. At 8.30am, London's blue chip index was down 134.51 points, or 3.51% to 3695.58. HSBC, one of the world's largest banks, plans to undertake the massive rights issue in the UK following a reported loss of $15.5bn from its US lending operation Household. The bank revealed pre-tax profits for 2008 had fallen 62% on the previous year to £6.5bn, sending its share price down 9.57% to 444.25. RBS leads the banking sector slide, down 15.09% to 19.70 - while Asian-foc...
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