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HBOS shares dive bomb on fears for future

Despite having just raised £4 billion to shore up its balance sheet it seems that the future of HBOS is very much in the balance with traders not convinced that the group is on a firm financial footing. There are concerns that the group will be forced to return to investors for more funding in the near future, something which has seen the shares fall by near a third this morning to around 190p, well below the recent rights issue price of 275p. So what next?

While many are fretting about the future of the group, some in the square mile actually believe that HBOS is one of the better funded UK banks which begs the questions about the future of the other UK giants. Are we to see another round of fund raising? Will a prominent UK bank lose the fight to survive?

There is a real fear with many concerned about the future of some UK banks after see a group with the experience and history of Lehman Brothers bite the dust. Money market rates have shot up over night, lenders are pulling out of the market or demanding crazy terms and the mortgage market is set to stall again. Whatever next?

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