Spreadex Market Update
Early session falls on the Dow
The FTSE had jumped 30 points after the news, which sparked renewed optimism that the US is finally gaining strength, however after some large moves from FTSE big hitters and across the Atlantic this gain was short lived.
Royal Bank of Scotland and insurance led the FTSE lower today after it revealed a further £450 million in charges for payment protection insurance mis-selling, causing shares to fall 2% on the back of the news as the additional hit added to a bottom line loss of £1.3 billion in the third quarter.
Admiral also saw hefty losses of 5% after a trading update exacerbated fears that revenue growth is slowing.
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