Reported plans to acquire South African bank Absa has sent shares in Barclays down sharply today, helping establish a FTSE 100 loss of 24 points to 4,568.30 by the close.
Barclays shed 24.5p, or 4.5% to 520p as news of the possible deal emerged. Initial estimates are it could cost the UK bank up to $3bn to close the deal. Reuters closed down 12.75p at 317.25p after more analysts marked the stock share price target down. Shell dropped 11.25p to 406.75p as Venezuela’s biggest oil company emerged as a likely buyer of the UK firm’s petrol stations in Argentina. Pearson, the publisher, dropped 15.5p to 607p on reports Spain’s biggest telecoms firm Telefonica was selling all its 38 million shares in the company. ITV shed 1.75p to 108p after being downg...
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