Newspaper article The Evening Standard (London, England)

Takeover Doubts Hit Lloyds TSB Shares

Newspaper article The Evening Standard (London, England)

Takeover Doubts Hit Lloyds TSB Shares

Article excerpt

Byline: MARTIN BENTHAM

BRITISH bank shares slumped again today as the UK stock market faced another day of sharp falls triggered by the growing world financial crisis.

Among the worst hit was Lloyds TSB, which in initial trading fell 19.95p or more than seven per cent to 197.3p amid continuing doubts about the viability of its recently agreed takeover of the struggling HBOS.

HBOS itself was also under pressure, dropping 13 per cent in initial trading to add to the 18 per cent fall it posted yesterday. Its share price is now 126p down on its price at the start of the week.

Shares in the Royal Bank of Scotland, which fell by nearly 13 per cent yesterday, were the biggest early faller today, dropping by a further 18.2p this morning, while Barclays was also 12.75p lower following a decline of more than 32p yesterday.

HSBC, which avoided the worst of the carnage yesterday by slipping only 14p, was 7.7p down in early trading this morning and appeared to again be weathering the storm better than its rivals. …

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