Barclays Shares Suspended.

Opps!
http://today.reuters.co.uk/news/articleinvesting.aspx?type=ukPoundRpt&storyID=2007-11-09T120022Z_01_L09226346_RTRIDST_0_FXNEWS-POUND-FALLS-AFTER-BARCLAYS-SHARES-SUSPENDED.XML
According to Reuters -Sterling falls to session lows vs dollar to $2.1001, retreating sharply from earlier 26-year highs of $2.1161. London-based trader says fall coincided with shares in Barclays being suspended (BARC.L: Quote, Profile , Research). Barclays shares fell by as much as 9 percent, hit by market talk of big credit losses at Britain's third largest bank and causing trading in the stock to be briefly suspended for technical reasons.

Dive! Dive! Dive!

And here is the kind of graph that makes grim reading.

**Could not happen to a nicer bunch of corporate fucks! Lets hope the cocksuckers crash & burn.

And in the papers we have http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/09/cnrbs109.xml

Shares in Britain's biggest banks dived again yesterday amid fears they are sitting on undisclosed losses as a result of America's sub-prime mortgage crisis and wider problems in the global credit markets.

According to Reuters "British bank Barclays Plc categorically denied rumors it was about to announce a $10 billion writedown and see its top management quit, after the market talk sent its shares tumbling over 9 percent.
"There is absolutely no substance to those rumors," a spokesman for Britain's third biggest bank said when asked about a possible $10 billion writedown..

LONDON (ShareCast) - Barclays (LSE: BARC.L - news) has come out and denied it is about to announce an asset write-down of as much as $10bn, dragging its shares off earlier lows.
Britain's third largest bank said there is "no substance" to the rumours and also moved to deny talk that chief executive John Varley is ready to step down.

It gave the same response when questioned about the possibility of an emergency rights issue.
Shares in the company had fallen 9% at one stage this morning to their lowest since the summer of 2004, with investors nervous about the possibility of hefty credit market related losses.
Heads have already rolled on Wall Street. Chuck Prince decided to bow out as boss of Citigroup (NYSE: C - news) on news that additional write-downs could hit $11bn.

Stanley O'Neal had already been ousted from Merrill Lynch (NYSE: MER - news) , less than a week after it revealed $8bn of losses due to sub-prime mortgage woes.
A trading statement is due from Barclays on 27 November (Frankfurt: A0S9N7 - news) .

Barclays are apparantly "Fluent in Finance."

Well, that's fantastic. It's just a shame none of the fucking Indians that answer their phones are fluent in English.

Tags:Barclays Bank

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