Friday, 9 November 2007
Will it, won't it; Barclay's bank to tank
Sadly I have not inside information on what happened at all today. Which is a shame as clearly there was a fortune to be made in trading today.
The story is as follows, early this morning the trading desks at two of the other Canary Wharf based banks decided to act on a rumour that Barlcay's was 'going to do a City.'
The shares promptly lost 9% and were suspended on technical grounds.
Barclay's offered a press release denying all of this and the shares were unsuspended and rose to end the day only 3% down.
So now we wait, is the Eagle wounded as so many City rumours these last 4 months suggest? Or is this just the gossip of those jealous of the BarCap money making machine?
The next few days should see this revealed....
Posted by CityUnslicker