SoFi CEO enters prepaid forward contract on 1.5 million shares
Investing.com -- British stocks fell on Friday, weighed down by a decline in major U.K. banking shares, while broader European markets also traded in negative territory.
The blue-chip index FTSE 100 fell 0.2% and the British GBP/USD was flat against the dollar at 1.35.
DAX index in Germany fell 0.5%, the CAC 40 in France 0.8%.
U.K. bank shares fall after think tank proposes new tax on lenders
U.K. bank shares dropped after think tank called for a new tax on commercial banks, arguing they receive billions in interest payments from the Bank of England that could be used for public services.
The FTSE 350 Banks index fell 1.9%, with Lloyds Banking Group PLC (LON:LLOY) posting a 3.4% drop. Barclays PLC (LON:BARC) tumbled 2.2%.
Other banks also saw significant declines, with Metro Bank PLC (LON:MTRO) falling 7.7%, NatWest Group PLC (LON:NWG) down 5%, and HSBC Holdings PLC (LON:HSBA) dropping 1%. Standard Chartered PLC (LON:STAN) rose 0.8%.
JTC shares jump on £2 bln takeover approach from Permir
In other financial sector news, wealth manager JTC PLC’s (LON:JTC) shares spiked after reports that private equity firm Permira Advisors is exploring a potential acquisition.
Permira has made a proposal valuing JTC at around £2 billion and has confirmed approaching the company regarding a possible cash offer. The deadline for a firm offer is September 26.
Frasers Group Chair David Daly to step down
Meanwhile, Frasers Group PLC (LON:FRAS) announced that David Daly will step down as chair after eight years on the board.
Jon Thompson will succeed him on September 1, with Daly formally leaving the board at the company’s annual general meeting on September 24, 2025.