UK banking group HBOS was the biggest faller in the FTSE All-Share index this morning despite meeting analysts' full-year profit estimates, after warning in a bleak outlook that market conditions will remain uncertain throughout this year.

Shares in HBOS fell 10.5% to 631p by 12:30 GMT today from yesterday’s close, despite the fact that the group met analyst estimates of net profits, which rose 4% to £4.1bn (€5.4bn), and earnings per share of 106.2p.