Afternoon Markets: FTSE reverses some earlier losses

The FTSE 100 managed to reverse some its earlier losses with HBOS and Lloyds TSB briefly pulling the ...

The FTSE 100 managed to reverse some its earlier losses with HBOS and Lloyds TSB briefly pulling the index back above this morning’s opening levels. At 15.20 the index stood around 3880 mark despite falling over 5% upon opening as a result of sharp Asian market declines. Both miners and financials had a volatile day with Investec and London Stock Exchange falling as much as 12%. BG Group and Petrofac were hit by falling commodity prices. HBOS led the index gaining 9%, followed by Lloyds (6.27%), British Sky Broadcasting (5.62%) and British American Tobacco (5.57%). Meanwhile, US stoc...