FTSE declines after banks fined over forex manipulation - London Report

BRITAIN’S top equity index fell yesterday, hit by disappointing corporate updates and a decline in bank shares, after regulators imposed fines to settle allegations of foreign exchange malpractice.

The blue-chip FTSE 100 index, which had risen for the last five sessions in a row, closed down 0.3 per cent at 6,611.04 points. The index held above its September low of 6,600, but remains more than four per cent off its highs for the year, posted in the same month.

Among the banks, Barclays dropped 2.17 per cent to 229.50p, HSBC dipped 0.3 per cent to 635.60p and RBS fell 0.95 per cent to 374.10p.

Capita slid 6.5 per cent to 1,048p, the top FTSE 100 faller, with traders citing concerns about a possible slowdown in its order pipeline, even though the outsourcing firm said it was on track for at least eight per cent organic growth for the full year.

Sainsbury fell 1.1 per cent to 266.10p, after it said it would take a hit in profits and cut dividends and new store openings to fund cheaper prices in an escalating battle for British supermarket customers.

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