Afternoon Markets: FTSE 100 plunges 1.5% after Moody's bank warning

The FTSE 100 dived 1.52% or 80.94 points to 5,260.99 with banks dragging on the index after Moody's warned UK lenders are at risk of Greek contagion.

Barclays was worst hit following the Moody's report, falling 6.52% to 301.7p. Lloyds dropped 5.76% to 56.64p, while Standard Charted declined 4.67% to £16.11 and RBS dipped 4.31% to 48.23p. Defence supplier Cobham also saw big falls, down 5.64% to 244.3p, as quarterly positive results failed to compensate for a slowdown in orders last year. Meanwhile, Schroders was the day's best performer, it was up 6.11% to £13.89, while Schroders NV advanced 4.81% to £11.12, after posting strong Q1 results. Among other risers, Rexam increased 2.81% to 321.5p, Randgold Resources 2.48% grew to £...