Market report: more uncertainty over Greece

 
Greek New Democracy (ND) party leader Antonis Samaras
20 August 2012

Investors stayed on the sidelines of the London market today amid more uncertainty over Greece's future within the eurozone.

The country's prime minister Antonis Samaras is due to visit Germany and France, where he is expected to ask for an extension on Greece's deadline to meet fiscal targets as it carries out painful reforms.

A poor session in Asia also contributed to the lacklustre trading performance in London, with the FTSE 100 Index six points lower at 5846.3.

Lloyds Banking Group, whose shares have risen by a third since May, led a rally for the banking sector. It rose 0.85p to 35.1p, while Barclays followed with a gain of 2.25p to 195.15p and Royal Bank of Scotland lifted 2.4p to 234p.

In the FTSE 250 Index, shares in platinum miner Lonmin fell another 5% - off 29.25p to 610.25p - as fears grow over the financial impact of strikes at its flagship operations in South Africa. It has been reported that Lonmin is considering a £640 million rights issue.

Bovis Homes was 2% higher after it doubled its half-year dividend to 3p and forecast further strong growth in the wake of a 100% rise in interim profits to £16.2 million. Shares rose 11.5p to 504.5p.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in