By Roger Neill
Jan. 19 (Bloomberg) -- U.K. stocks declined, led by Royal Bank of Scotland Group Plc after saying it might post a loss of as much as 28 billion pounds and the government said it may raise its stake in the lender to 70 percent.
The benchmark FTSE 100 Index lost 31.92, or 0.8 percent, to 4,115.14 at 1:18 p.m. in London. The index earlier rose as much as 2.5 percent.
Royal Bank plunged 42 percent to 20 pence. Britain’s biggest government-controlled bank said it may post a full-year loss before exceptional goodwill impairments of as much as 8 billion pounds. In addition, the bank may write down the value of past acquisitions by as much as 20 billion pounds.
Lloyds Banking Group Plc slumped 20 percent to 79.1 pence, while HSBC Holdings Plc, Europe’s biggest bank, lost 6.3 percent
to 502.25 pence.
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