HBOS fights off panic attack, tours investors with tier one in mind
HBOS fought off damaging and unfounded rumours that it was facing a liquidity crisis yesterday (Wednesday), in the latest example of investors and traders attacking a financial institution in the present climate of near-panic about bank risk.
The UK retail and corporate banks shares plummeted 17% early on Wednesday as rumours spread that it had been forced to seek emergency funding from the Bank of England.
But a swift denial from the BofE reversed most of the fall and they ended only 7.08% down, at 446.25p.
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