FTSE 100 Extends Declines As Banks Tumble
(RTTNews) - U.K. stocks tumbled on Monday after HSBC said it acquired the U.K. subsidiary of Silicon Valley Bank for 1 British pound to ensure the continuity of banking services, minimize disruption to the U.K. technology sector and to maintain the confidence in the financial system.
The benchmark FTSE 100 was down 123 points, or 1.6 percent, at 7,612 after losing 1.7 percent on Friday.
HSBC Holding shares fell nearly 3 percent, while Barclays, NatWest, Lloyds Banking and Standard Chartered were down 2-4 percent.
Ricardo, an engineering and environmental consultancy, gained about 1 percent after it acquired 90 percent of the Australian water advisor, Aither Pty Ltd., for 17 million pounds in cash from its founders and co-directors Chris Olszak and Will Fargher.
Insurance firm Phoenix Group lost 3 percent after widening its FY pre-tax loss.
No Help Yet For Taiwan Stock Market
Rally May Stall For Singapore Stock Market
Malaysia Bourse May Head South Again On Tuesday
Japan Stock Market May Extend Losing Streak
Soft Start Anticipated For South Korea Shares
China Data Due On Tuesday
U.S. Dollar Advances Amid Fed Rate Hike Expectations, Fresh Crude Oil Supply Concerns
