HSBC, NatWest, Barclays and Lloyds lose out as investors switch to defence stocks
Britain’s banks were among the biggest fallers on the London Stock Exchange on Monday after western governments agreed over the weekend to expand financial sanctions against Russia.
HSBC, NatWest, Barclays and Lloyds lost more than 3% of their value and were joined by the insurers Prudential and Legal & General as investors shifted their funds to defence manufacturers and firms likely to benefit from price rises after Russia’s invasion of Ukraine. The FTSE 100 was down 1.3%.
