A MULTI-BILLION euro bailout for Spain's banks was not enough to appease traders' concerns over the embattled country as the London market closed 1% lower.
A MULTI-BILLION euro bailout for Spain's banks was not enough to appease traders' concerns over the embattled country as the London market closed 1% lower.
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The FTSE-100 Index closed down 62.4 points at 5651.8 as Spain's borrowing costs remained in bailout territory despite the country receiving approval for a €100 billion (£80 billion) rescue package for its banks. Investors remained concerned that the Spanish government would need its own bailout, fuelled by reports that the Valencia region was set to seek help to refinance its debt.
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