FTSE hit by potential tory rebellion against May and banking woes

The FTSE 100 ended down on Monday, as political uncertainty in the UK and the banking sector dragged shares down, cancelling out earlier gains fuelled by the weak pound.

The FTSE was down 0.24% at 7,415.18 as shares in Barclays, HSBC, Lloyds, RBS and Standard Chartered all closed lower. The FTSE 250 also fell, dropping 1.16% to 19,787.91.​

Taylor Wimpey was flat at 192.9p as slowing home sales in the second half were matched by the group’s guidance for the full year.

The pound fell as much as 1% against the dollar to $1.3063, as uncertainty over the future of prime minister Theresa May increased. By the close of the working day in London sterling had recovered to $1.31, still down 0.7% on the day. It was also lost 0.6% against the euro, standing at €1.12.

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