Bankers predict fresh bout of misery Market Comment IN ASSOCIATION WITH Rensburg Sheppards Market watch

Royal Bank of Scotland steadied a little after yesterday's mammoth 67% fall before finishing the day a further 11% lower, as doubts over the Government's second bank bail-out and renewed fears for the sector's health dragged the market down. Sandy Chen, an analyst at Panmure Gordon, s...

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Bibliographic Details
Published inDaily post (Liverpool, England : 1978)
Main Author Williams, Hollie
Format Newspaper Article
LanguageEnglish
Published Liverpool (UK) MGN Ltd 21.01.2009
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Summary:Royal Bank of Scotland steadied a little after yesterday's mammoth 67% fall before finishing the day a further 11% lower, as doubts over the Government's second bank bail-out and renewed fears for the sector's health dragged the market down. Sandy Chen, an analyst at Panmure Gordon, said: "The Government's rising equity stake in RBS is an indicator of the path ahead for other UK banks as well, driven by further losses." Investors were astounded by RBS's potential losses and were further spooked when the bank admitted that more credit writedowns "seem certain".