FTSE 100 hits four-month low as financials tumble

Sharp share price falls from a number of financials have sent the FTSE 100 lower today, with the index approaching a four-month low.

By midday the FTSE 100 was down 0.93% or 59 points to 6,240, having earlier slipped to 6,206, a level not seen since the end of January. The index has been weighed down by a sell off in some banks, with Royal Bank of Scotland leading the losers after CEO Stephen Hester surprised the market be announcing he will leave the firm at the end of the year. The taxpayer-backed bank fell as much as 7% after the opening bell, before recovering some ground, and is currently down 3.8% or 12p, at 313p. Other financials also suffered a sell off, with Aberdeen Asset Management continuing its losi...