Financial stocks hit by Deutsche Bank fears

London’s top-flight index slid into negative territory as investors pulled out of financial stocks amid mounting concerns over the health of Deutsche Bank.

The FTSE 100 Index was down 10.37 points to 6,807.67 as London-listed lenders were dragged lower by the negative sentiment surrounding the German bank.

Deutsche Bank closed down 0.4% at 10.51 euros on Germany’s Xetra exchange, while Royal Bank of Scotland and Barclays dropped 2.9p to 174.6p and 2.2p to 165.9p respectively in London.

The UK’s premier index swung into the red after pushing higher at the beginning of the session when polls from across the Atlantic suggested US presidential candidate Hillary Clinton had emerged victorious in a debate with Republican nominee Donald Trump.

It comes after more than £23 billion was wiped off the FTSE 100 on Monday as the index was pulled lower by financial stocks and renewed fears of a Trump presidency.

In Europe, Germany’s Dax was off 0.3% and the Cac 40 in France dropped by 0.2%.

On the currency markets, the pound was up 0.7% against the euro to 1.16 euros and 0.2% higher against the US dollar at $1.30.

Brent crude sank 3.4% to $45.73 a barrel after Saudi Arabia and Iran poured cold water on hopes of securing an Opec oil deal to curb output at a meeting in Algeria this week.

The move dealt a blow to Royal Dutch Shell, which emerged as one of the biggest fallers on the market, dropping more than 2% or 42.5p to 1882.5p.

Shell was one of the biggest fallers, down more than 2%.