FTSE shares dips sharply

UK shares have dipped dramatically today, with the FTSE 100 down nearly 6 per cent following a turbulent weekend in the banking sector.

UK shares have dipped dramatically today, with the FTSE 100 down nearly 6 per cent following a turbulent weekend in the banking sector.

The fall follows a series of events over the weekend that included the German government arranging a £39billion rescue package for Hypo Real Estate.

The UK Treasury is understood to be considering buying large stakes in Britain's banks in order to inject more money into the banking system and get them lending to each other again.