Shares in the Royal Bank of Scotland Group PLC (RBS), whose credit rating was downgraded by Standard & Poor’s credit agency on Monday, plummeted by 39% to close at 90 pence ($1.58) on the London Stock Exchange. HBOS closed down 41.5% at 94 pence ($1.65), Lloyds TSB dropped 13% to 225 pence ($3.96) and Barclays fell 9% to 285 pence ($5.01). The dramatic falls followed a meeting on Monday between the government’s leading financial figures and the heads of Britain’s biggest banks, during which they discussed a possible rescue plan for the beleaguered banking sector, according to two banking officials with knowledge of the meeting who asked not to be identified because the meeting was confidential. More
Sphere: Related Content
-
Categories
-
Archives