LONDON, Aug 7: Britain’s top share index was flat in opening deals on Tuesday, as big falls in Standard Chartered offset gains from other banks and mining stocks.
The FTSE 100 was up 1.95 points at 5,810.72 by 0716 GMT, having closed up 0.4 percent on Monday, buoyed by Friday’s robust U.S. Jobs report and by hopes Spain will request a bailout triggering European Central Bank action to further relieve the euro zone debt crisis.
Standard Chartered skidded 15.4 percent lower after New York’s top bank regulator threatened to strip it of its state banking license, saying the bank was a ‘rogue institution’ that hid $250 billion in transactions tied to Iran, in violation of U.S. Law.
The bank has strongly rejected that portrayal.
Volume in StanChart shares was over 280 percent of its 90-day daily average in the first 20 minutes of London trading.
(AGENCIES)
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