Barclays shares have dropped to a two-and-a-half year low on speculation it approached the Bank of England (BoE) last night for an emergency loan.
The funding rumours smashed Barclays stock this morning, with the bank falling 8.7% at one stage. It has corrected somewhat this afternoon, but is still currently down 6.2%. While no comment on both sides has been made, the BoE daily money-market operations report showed no emergency loans to banks at its penalty rate yesterday. Barclays is leading the losses on a poor day for financials across the board, with the Royal Bank of Scotland also significantly lower. Financials in the US and in Asia are also struggling. To comment on this story, contact: Hysni Kaso Reporter 0207 034 2681 ...
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