Lloyds banking group shares fall after Osborne postpones final stake sale

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>Lloyds Banking Group shares fell after the Government postponed the sale of its final stake in the lender&period;<&sol;p>&NewLine;<p>Chancellor George Osborne said he would not give the green light to the sale until turbulence in global markets had subsided&comma; sending the lender’s shares down as much as 2&percnt; at one stage&period;<&sol;p>&NewLine;<p>The FTSE 100 Index was 58&period;6 points lower at 5931&period;8 amid ongoing volatility in global markets that has seen top flight shares in London fall by some 7&percnt; since the start of the year&period;<&sol;p>&NewLine;<p>Germany’s DAX fell by more than 2&percnt; and the Cac 40 in France was more than 1&percnt; lower&period; In New York the Dow Jones Industrial was down slightly in early trading&period;<&sol;p>&NewLine;<p>The pound was two cents up against the US dollar at just under 1&period;44 after official figures showed that the UK economy grew at a faster pace in the fourth quarter of 2015&comma; at 0&period;5&percnt; against 0&period;4&percnt; in the previous three months&period;<&sol;p>&NewLine;<p>The Office for National Statistics added that expansion over 2015 as a whole eased back to 2&period;2&percnt; from 2&period;9&percnt; in 2014&period;<br &sol;>&NewLine;Sterling was a cent up against the euro at just over 1&period;31&period;<&sol;p>&NewLine;<p>Traders were also weighing up comments by the US Federal Reserve which held rates and said it was &OpenCurlyDoubleQuote;closely monitoring” global economic conditions&period;<&sol;p>&NewLine;<p>The central bank said US economic growth had slowed as exports fell because of the strengthening dollar&period;<&sol;p>&NewLine;<p>However&comma; traders cheered Brent crude lifting above 34 US dollars a barrel&comma; on hopes that Russia&comma; Saudi Arabia and other Opec nations were close to talks about cutting production to stem oversupply&period;<br &sol;>&NewLine;In stocks&comma; Royal Dutch Shell and BP were both higher as oil prices rose&comma; up 34p to 1496p and 5&period;6p to 368&period;5p respectively&period;<&sol;p>&NewLine;<p>Lloyds Banking Group was down 0&period;9p at 64&period;1p&comma; and Barclays was 3&period;4p lower at 178&period;4p&period;<br &sol;>&NewLine;Energy giant SSE said it will cut its standard gas prices by 5&period;3&percnt; in the latest move by a Big Six supplier to reduce tariffs&period;<&sol;p>&NewLine;<p>The group said the reduction will take effect on March 29 and will save household gas customers on average £32 a year&period;<&sol;p>&NewLine;<p>Shares fell 8p to 1424p&period;<&sol;p>&NewLine;<p>Rival British Gas owner Centrica was down almost 5&percnt;&comma; or 9&period;9p at 200&period;2p&period;<&sol;p>&NewLine;<p>Elsewhere&comma; transport giant FirstGroup slumped 12&percnt;&comma; or 12&period;3p to 90&period;1p&comma; after the FTSE 250 firm warned over annual profits after bad weather and flooding at the end of last year hit its bus business&period;<&sol;p>&NewLine;<p>The Aberdeen-based group said its third quarter results were impacted by the extreme flooding across Cumbria and the north of England&comma; while its First Student school bus division in the United States suffered a driver shortage&period;<&sol;p>&NewLine;<p>The biggest risers on the FTSE 100 Index were Anglo American up 22&period;2p at 275&period;9p&comma; Tesco up 5&period;2p at 166&period;2p&comma; Royal Dutch Shell up 34p at 1496p&comma; Antofagasta up 8&period;6p at 384p&period;<&sol;p>&NewLine;<p>The biggest fallers on the FTSE 100 Index were Ashtead down 75p at 890p&comma; Carnival down 232p at 3384p&comma; International Airlines Group down 27p at 525&period;5p and Centrica down 9&period;9p at 200&period;2p&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-69f3ee525fb37">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; 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1 COMMENT

  1. By the time George Osborne completes his tenure in the office, he would have completely sold out the whole of Britain to his friends.

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