FTSE dives 1.7% on hung parliament fears and Greek woes

clock

The FTSE 100 plunged 1.71% or 89.76 points to 5171.23 this morning as shares were hit by the prospect of a hung parliament in the UK and worries over the Greek debt crisis.

Banks continued to fall, after heavy losses yesterday following a Moody's report warned UK lenders are at risk of Greek contagion. RBS dropped 45.37% to 45.64p, despite reporting an operating profit £713m in Q1. Meanwhile, Lloyds declined 4.33% to 54.19p and Barclays fell 3.7% to 290.55p. However, the UK's two banks with big exposure to Asia reversed some of the previous day's losses. HSBC was the morning's second biggest riser, up 1.19% to 635.9p, while Standard Chartered advanced 0.34% to £16.17. The FTSE drop follows a turbulent trading session for the Dow Jones which plunge...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

FCA's Rathi addresses Autumn Budget market abuse concerns

FCA's Rathi addresses Autumn Budget market abuse concerns

Pens open letter to Treasury Committee

Isabel Baxter
clock 04 December 2025 • 2 min read
More tax, less shelter: A slow-burn Budget for savers and investors

More tax, less shelter: A slow-burn Budget for savers and investors

'The Budget documents make for sobering reading for those trying to build up their wealth'

Laith Khalaf
clock 04 December 2025 • 3 min read
OBR 'deeply regrets' early release of Budget document

OBR 'deeply regrets' early release of Budget document

Mistaken release of Budget documents forced Richard Hughes' resignation

Linus Uhlig
clock 02 December 2025 • 3 min read