close
Banks

Post-Brexit – UK bank stocks get slaughtered

bank2

Royal Bank of Scotland shares are down 14.5 per cent today, after falling 18 per cent on Friday. Those are the bank’s two worst one-day drops since 2009 and take its post-Brexit referendum losses to 31 per cent, writes Joel Lewin.

Barclays shares are down 11.5 per cent today after falling 18 per cent on Friday. Since the UK voted to leave the EU, the bank’s shares have dropped 27 per cent.

Shares in RBS and Barclays were briefly suspended for five minutes around 9.25am on the London Stock Exchange on Monday morning, as they breached the 8 per cent share decline which triggers a circuit break mechanism.

Lloyds Banking Group shares have skidded another 9.3 per cent this morning after falling 21 per cent on Friday. Its post-referendum decline is now 28.5 per cent.

Risk Warning:

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Paul

The author Paul