NEW! Investment Companies Centre

Downing St. summit "scheduled for some time"

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Tuesday 07 Oct 2008

LONDON (ShareCast) - A top level meeting to discuss ways of stabilising the financial system is taking place at Downing Street this afternoon (Tuesday).

Prime Minister Gordon Brown and Chancellor of the Exchequer Alistair Darling are holding talks with the governor of the Bank of England, Mervyn King, and the chairman of the Financial Services Authority, Lord Turner of Ecchinswell.

A spokesman for the Prime Minister denied it was a crisis meeting, saying it had been scheduled for some time.

The participants will discuss “ongoing action” aimed at soothing the troubled financial markets.

The meeting comes at the end of a traumatic day for most banks in which Royal Bank of Scotland and Barclays both felt obliged to deny they had sought capital injections from the government.

The share prices of Royal Bank of Scotland and HBOS has been especially hard hit today, with the former shedding 41% of its value in a single day while HBOS’s share price has fallen 38% to below £1.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).