Renewed fears as Lloyds shares crash
Wednesday, January 21, 2009 : Permalinknebusiness.co.uk – LLOYDS Banking Group became the latest casualty of the bank sector sell-off yesterday as its shares plunged as much as 47%.
Royal Bank of Scotland steadied a little after Monday’s mammoth 67% fall, but doubts over the Government’s second bank bail-out and renewed fears for the sector’s health dragged its rivals lower.
Lloyds, created this week from the merger of HBOS and Lloyds TSB, was the worst hit, followed by Barclays down nearly 20%.
The falls extend losses across the sector in light of news that RBS expects to report record annual losses, but also comes in the wake of the recent expiry of the short-selling ban.
Tags: banking-group, barclays, casualty, doubts, expiry, fears, hbos, health, lloyds tsb, losses, merger, rbs, rivals, royal-bank-of-scotland
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