Challenger bank shares hit again
Shares in challenger banks are tumbling once again as the fallout of the EU referendum continues to spook investors.
As of 12:11 shares in Aldermore are down 5.66%, Metro Bank is down 5.53% and Shawbrook is down 5.78.
All the banks are listed on the FTSE 250 index which has now fallen by 1.1% today, or 177 points to 15,557, as investors continue to exit British firms.
The FTSE 250 index has now lost more than 10% of its value since the vote on June 23.
And just yesterday Bank of England governor Mark Carney pointed to the FTSE 250 as a good gauge of market sentiment towards the UK. As such the slump in valuations is a concern.
The index dipped by 13% in the two days after the vote, before bounding back. So far this week the index has been in a state of steady decline as Brexit gloom has deepened.