AFP
FTSE 100 ends in the red

Tue Nov 3, 12:11 PM ET

LONDON (AFP) - London shares ended in the red on Tuesday as investors digested the news of a huge overhaul of state-controlled banks Lloyds and Royal Bank of Scotland (RBS).

The FTSE 100 index was down 1.32 percent at 5,037.21 points.

RBS was the most traded stock, seeing 323 million units change hands, followed by Lloyds, which saw 248 million shares switch owners.

Lloyds was top of the leader board gaining 2.33 pence -- or 2.74 percent -- to finish at 87.33.

Randgold followed with shares gaining 110 pence -- or 2.62 percent -- to stand at 253.

The biggest casualties of the day were RBS, which shed 2.72 pence -- or 7.04 percent -- to finish at 35.93, and Schroders, giving up 39 pence -- or 4.32 percent -- to end at 864.

Sterling edged higher against the euro but lost ground to the dollar.

The pound was worth $1.6408 at 15:58, down from $1.6410 at Monday's close, while it climbed to 1.1176 euros up from 1.1105 over the same period.

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