Banks led the FTSE into red on Thursday. Here is an excerpt from email newsletter
"Big losses for the banks following a downgrade for Citigroup sent Footsie spinning into the red by the close. Citigroup could have to cut its dividend, sell assets or raise new funds to restore its capital base according to CIBC World Markets. Barclays, Northern Rock, Lloyds TSB, HSBC and HBOS all slumped in sympathy despite last night’s cut in US interest rates. "
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