London stock market down 5 percent on bank fears
The London stock market was weighed down on renewed fear for the future of the banks on Wednesday with the FTSE 100 index ending down by 4.97 percent, or 218.51 points, at 4,180.6, Xinhua reported.
Royal Bank of Scotland Group topped the falling list, shedding off 18.4 percent, while transport operator FirstGroup came to the second with a fall of 14.84 percent.
Barclays fell 14 percent, RBS was down 18 percent and HSBC ended 8 percent lower, as the market fears that the leading British banks may have to raise more capital.
Firstgroup's shares fell 14.8 percent after the firm said revenues had slid at its North American Greyhound bus service.
Engineering group Amec rose 6.4 percent thanks to the company's encouraging business results.