SHARES in Royal Bank of Scotland plunged 6%, wiping £1.3 billion off its stock market worth, amid a wave of negative comment from City analysts and concerns that a US deal over Libor interest rate fixing may involve admission of criminal charges.
SHARES in Royal Bank of Scotland plunged 6%, wiping £1.3 billion off its stock market worth, amid a wave of negative comment from City analysts and concerns that a US deal over Libor interest rate fixing may involve admission of criminal charges.
STORMY WEATHER: RBS lost 6% in value, becoming the biggest faller on the FTSE-100. Picture: Stewart Attwood
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Tim Sharp City Editor
RBS was the biggest faller in the FTSE-100, closing down 22p at 345.8p, as the 82% state-owned bank also became embroiled in fresh controversy over bonuses for its investment bankers.
Heavyweight investment bank Goldman Sachs highlighted Edinburgh-based RBS's vulnerability to changing banking regulation, and analysts at Espirito Santo said a further equity raising by RBS, which they think is the weakest capitalised bank in the UK, "cannot be ruled out".
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