FTSE 100 movers: Banks slide on cash call scepticism

11th Aug 2009 11:06

Banks are weak after the FT is reported that Lloyds Banking's tentative plans to raise an estimated £15bn-£20bn in a rights issue to reduce its reliance on the government face a wall of scepticism in Whitehall and among investors. Royal Bank of Scotland is also lower. Power generator International Power leads the risers after it reported a rise in profit in the six month period, thanks to improved contributions from Australia and Asia. Profit from operations rose to £555m in the six months ended 30 June compared with £495m last time, up 12% or 2% at constant currency. Holiday Inns and Crowne Plaza hotel group Intercontinental held its interim dividend despite a tough first half that saw revenues tumble and the group post a loss after one-off items.'Trading was very challenging throughout the first half of the year and we expect the remainder of 2009 to be tough,' chief executive Andrew Cosslett said, though he added there were signs trading had stabilised recently.FTSE 100 - RisersInternational Power (IPR) 263.00p +5.88%Rexam (REX) 240.30p +3.80%Reckitt Benckiser Group (RB.) 2,792.00p +1.97%National Grid (NG.) 572.50p +1.51%Tullow Oil (TLW) 1,023.00p +1.49%Royal Dutch Shell 'B' (RDSB) 1,555.00p +1.44%Diageo (DGE) 943.00p +1.34%Scottish & Southern Energy (SSE) 1,129.00p +1.26%FTSE 100 - FallersLloyds Banking Group (LLOY) 92.09p -5.93%Royal Bank of Scotland Group (RBS) 43.28p -4.48%British Land Co (BLND) 473.80p -4.19%Aviva (AV.) 365.40p -4.17%Old Mutual (OML) 91.00p -4.06%Liberty International (LII) 464.70p -3.79%Next (NXT) 1,653.00p -3.50%InterContinental Hotels Group (IHG) 731.50p -3.50%