FTSE dives as Barclays shareholder offloads stake

London's blue-chip index is 47.57 points lower at 4,458.62, with Barclays sinking 12.96% to 275p. International Petroleum Investment Corp, an investment vehicle of the Abu Dhabi royal family, plans to sell its 1.3bn Barclays shares, just seven months after making its large investment. IPIC will continue to hold warrants which convert into Barclays shares later this month. The move driven the banking sector down, with Lloyds 3.31% lower to 70.1p and HSBC dropping 2.72% to 537p. Home improvement retailer Kingfisher leads the gainers, up 7.62% to 197p - while Home Retail is 4.96% highe...