Regulatory changes forced the market downwards in the United Kingdom. Stocks of many Companies witnessed downward pressures due to these reasons. FTSE 100 Index declined by 95.01 points or 1.8% down to remain at 5,338.72 at 11:53 a. m. in London. The FTSE All-Share Index was also down by 1.7% and Ireland's ISEQ Index was also down by 2% as most of the bank shares declined in Dublin.

Shares of banking and mining Companies were under significant pressure. Analysts pointed out that these shares will continue to be under a lot of pressure in the coming days. It is being argued that regulatory changes will force these shares to stay under continued pressure.

UK banking major Barclays Plc lost 3.7% even as Credit Suisse Group AG reported that earnings may be down by 37% as a result of new regulations.

The share prices of Xstrata Plc also fell down by 3.2% as the prices of copper, aluminum and zinc went down on the London Metal Exchange.

Analysts are stressing that investors are putting more money into dollar and gold as they feel that these are safer avenues for investment.

The problems in the European Union also moved more investors towards dollar and gold. As a result gold prices climbed to record levels on London Metal Exchange.

Share prices of Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc also fell down by 2.7% and 2.1% respectively.