Weak bank stocks halt FTSE climb
20/06/2005 - 13:34:48Weaker banking stocks today helped put the skids under the London market’s recent rise to a three-year high.
Lloyds TSB’s warning that it had seen an increase in levels of high street arrears ensured a clutch of rivals were in weaker territory, leaving the FTSE 100 Index down 7.4 points at 5070.2 by lunchtime.
Elsewhere, the sight of a barrel of US crude above $59 in New York boosted the likes of BP and Shell – but weighed heavily on oil-dependent stocks such as British Airways.
The latest increase in the cost of crude came after ongoing supply worries were compounded by a threat to Western consulates in Nigeria.
