RBS slump continues as FTSE falls back

RBS shares have continued a pullback that began in earnest earlier this week as the FTSE moved back below 6,300 in morning trading.

Shares in the bank fell as much as 2.5% this morning, taking the stock's losses for the week to over 7%. The bulk of that fall came on Tuesday, when Goldman Sachs downgraded the bank from buy to neutral and rumours of an imminent settlement over LIBOR fixing pushed shares down 6%. The share price move came as the FSA published the latest findings of its ongoing investigation into UK banks' mis-selling of swaps to small businesses. Elsewhere, weak trading updates helped push the index down 0.6% to 6,288, with AstraZeneca the largest faller, dropping 5.6% to £29.77 after it reported ...