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Panic selling causes temporary suspension of Barclays shares after 9% drop

Trading in Barclays shares was temporarily suspended today after a sudden drop in its share price of more than 9 per cent to 442p.

It is believed that the stock price fell following rumours in the market that Barclays was on the verge of issuing a $10bn writedown and that the bank planned to launch an emergency rights issue to raise funds.

There was also talk of the impending resignation of chief executive John Varley and investment banking head Bob Diamond.

A Barclays spokesperson denied the rumours, saying: “There is absolutely no substance to them.”

When trading resumed minutes later the share price recovered slightly, but remained down by 6 per cent.


Medical facts are not on the record

MorganAsh managing dir-ector Andrew Gething has criticised the procedure of submitting medical records to insurers for protection applications to avoid non-disclosure and says the records are often incomplete.Gething says: “GP records are not the gold standard we once thought. They are incomplete. People now visit other health profess-ional, occupational ther-apies and have tests in pharmacies […]

Orcid blooms

I was pleasantly surprised when talking recently with Keith Robinson, support director at Origen, who is very happy with the recent deployment of Quay Software’s customer care desktop product in his organisation.

Fitch Ratings brands Pearl’s Resolution bid as “potentially detrimental”

Fitch Ratings has downgraded Resolution’s rating to negative following Standard Life’s withdrawal of its offer for the life company yesterday.Fitch says that Pearl’s offer for the company is “potentially detrimental” to Resolution’s credit quality and it has decided to downgrade its rating as a result. The ratings agency says Pearl’s current capital management strategy is […]


Lifetime Isa – how it works

According to George Osborne “people like Isas – because they’re simple”. Fiona Tait is not convinced… Contributions & bonuses What he said: “From April 2017, anyone under the age of 40 will be able to open a Lifetime Isa and save up to £4,000 each year. And for every £4 you save, the Government will […]


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