FTSE 100 down as Lloyds Banking rises

Tuesday 3rd November 2009

The FTSE 100 was down 1.4 per cent in early trading today – with the only stock rising with any strength being Lloyds Banking.

At 08:53 GMT, the index was down 71.60 points to 5,032.90.

Lloyds Banking was up 4.06 per cent to 88.45p – as the lender announced a rights issue worth £13.5 billion, a £7.5 billion debt for stock exchange and a sell-off of branches and businesses along with stepping away from the government's toxic asset insurance scheme.

Man Group was up 0.29 per cent.

Aviva was down 3.37 per cent – after the firm revealed its sale of stock in Dutch insurer Delta Lloyd raised €1.02 billion, the lower end of the predicted size of the deal.

3i Group lost 3.02 per cent and Old Mutual was down 3.01 per cent, while miners Fresnillo and BHP Billiton were down 2.93 per cent and 2.78 per cent as the sector dropped back from yesterday's gains.

Last night in New York, the Dow was up 0.79 per cent and the Nasdaq gained 0.20 per cent.

In Asia, the Nikkei lost 2.31 per cent and the Hang Seng dropped 1.76 per cent.

The Dax in Frankfurt this morning lost 1.49 per cent and the Cac 40 in Paris slipped 1.63 per cent.

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