Trading suspended on RBS and Barclays shares as assault on banks resumes

Edinburgh-based RBS, which is 73 percent owned by the UK government, and Barclays both fell more than ten per cent by mid-morning.

So violent was the fall at the FTSE 100 banks that circuit breakers on the London Stock Exchange were triggered.

On Friday, markets had turned on stocks perceived to most at risk from prolonged uncertainty over the UK’s relationship with Europe in the immediate aftermath of the referendum result and began again this morning.

Trading is suspended automatically for five minutes on a stock if it falls by more than eight per cent from its opening price.

Barclays was down 10 per cent on Friday’s close at 138p, while RBS fell by 14 per cent.

The fall follows sharp losses of around 20 per cent for both banks during trading on Friday.

Other London-listed stocks to have trading halted were FTSE 100 were insurers Legal and General, FTSE 250 challenger bank Virgin Money, housebuilders Taylor Wimpey.