Barclays shares are in demand, despite the fall-out from the LIBOR scandal and Bob Diamond's resignation, with investors buying five shares for every one sold.
Almost half of the top ten share buys were Barclays following Diamond's announcement he would step down on Tuesday morning, according to TD Direct Investing. Chief executive Stuart Welch said: "Barclays was the key focus for our clients, accounting for 48.4% of the top ten buys and almost one fifth of the top ten sells," reports the Telegraph. Investec Securities said in a note: "Our case for buying Barclays now is simple. Firstly, increased recognition that attempted LIBOR manipulation is a multi-bank issue should drive a reversal of Barclays' sharp underperformance. "Secondly, re...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
