BARCLAYS SHARES PLUMMET AFTER $1.2BN INVESTOR DUMPS STOCK

 

BARCLAYS SHARES PLUMMET AFTER $1.2BN INVESTOR DUMPS STOCK

SHARES IN UK BANK BARCLAYS DROPPED UP TO 6% IN EARLY TUESDAY TRADING AFTER A TOP UNNAMED INVESTOR SOLD A WHOPPING 599MN SHARES WORTH $1.2BN, OR A 3.6% STAKE IN THE BANK.

TUESDAY’S SLUMP COMES AFTER A DISASTROUS MONDAY ON WHICH CAPITAL GROUP SOLD 399MN SHARES IN BARCLAYS, THE BANK LOST AROUND $589MN FOR OVERSELLING PRODUCTS IN THE US, AND SHARE PRICES TUMBLED 4%.

BARCLAYS ALSO ANNOUNCED IT WOULD HAVE TO DELAY A $1.3BN SHARE BUYBACK.

 

 

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