MARKETS A weak performance from the banking sector saw the London market close lower on Tuesday. Lloyds Banking Group fell 10.3 per cent to 89.1p, while Barclays lost 6.5 per to 268½p and RBS slipped 5.6 per cent to 43½p, as investors decided to lock in gains following a bearish note from Credit Suisse.
Downgrading Barclays and RBS, and keeping its “underperform” rating on Lloyds, analyst Jonathan Pierce said the sector looked fully valued after its recent run and he was worried that investors had underestimated the impact of new liquidity regulations on margins.
