The banks were in the red as the euro crisis drags on, with Lloyds, Standard Chartered and Royal Bank of Scotland (RBS) among the worst performers. Lloyds is rumoured to be shaking up its management structure, according to the Financial Times. Sources quoted by Reuters indicate that an announcement should be made in the next week or so.

RBS continued to make the headlines on Monday morning after it appeared that its Chief Executive Stephen Hester is to bow to public and political pressure and decline his bonus share award worth £963,000.

Whitbread was also in decline after Credit Suisse cut its rating from outperform to neutral.

Miners were tracking metals prices lower, with Evraz, Vedanta Resources, Glencore and Antofagasta registering steep losses. Even Rio Tinto was falling despite an upgrade by Goldman Sachs from neutral to buy.

Norwich-based insurance giant Aviva also took a hit after announcing plans to reduce its presence in eastern Europe as it continues with its strategy of focusing on markets where it has strength and scale.

The company is to sell Aviva Czech Life, Aviva Hungary Life and Aviva Romania Life & Pensions to US life assurance firm MetLife.

Meanwhile, defensive stocks were in demand, with utilities National Grid, International Power and Centrica among the highest risers. British Gas owner Centrica announced this morning that it would pay ConocoPhillips $223m for its non-operated interests in the gas- and oil-producting Stratfjord field (and associated satellites) in the North Sea.

Chip designer ARM Holdings was also among the risers after Nomura raised its target price on the stock. While the broker maintained its neutral rating, it said that in the long-term, it remains encouraged by the opportunities arising from notebooks and servers.


FTSE 100 - Risers
Hargreaves Lansdown (HL.) 419.20p +0.94%
GlaxoSmithKline (GSK) 1,431.50p +0.77%
International Power (IPR) 332.40p +0.73%
ARM Holdings (ARM) 600.00p +0.67%
Centrica (CNA) 294.10p +0.65%
United Utilities Group (UU.) 604.50p +0.50%
SSE (SSE) 1,216.00p +0.50%
Sainsbury (J) (SBRY) 289.60p +0.35%
National Grid (NG.) 612.50p +0.33%
Vodafone Group (VOD) 172.80p +0.32%

FTSE 100 - Fallers
Lloyds Banking Group (LLOY) 30.86p -4.81%
Royal Bank of Scotland Group (RBS) 26.65p -3.93%
Essar Energy (ESSR) 129.30p -3.79%
Evraz (EVR) 442.70p -3.76%
Aviva (AV.) 345.20p -3.06%
Antofagasta (ANTO) 1,310.00p -2.82%
Barclays (BARC) 216.65p -2.78%
Schroders (SDR) 1,480.00p -2.70%
Vedanta Resources (VED) 1,193.00p -2.69%
Whitbread (WTB) 1,647.00p -2.54%

NR

Related share prices
Barclays (BARC) share price
Aviva (AV.) share price
GlaxoSmithKline (GSK) share price
Lloyds Banking Group (LLOY) share price
Royal Bank of Scotland Group (RBS) share price
SSE (SSE) share price
United Utilities Group (UU.) share price
ARM Holdings (ARM) share price
Antofagasta (ANTO) share price
International Power (IPR) share price
Essar Energy (ESSR) share price