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....

12 comments:

  1. It's been denied so of course they have lost lots of money.

    ReplyDelete
  2. Wars and rumours of wars ...

    what's revealing is how easily believable are scary rumours these days; a quick blip on a Reuters screen and everyone assumes the worst

    ReplyDelete
  3. There's no such thing as an unsubstantiated rumour.

    Apart from the one about Nicholas Parsons playing the sax solo on 'Baker Street'.

    ReplyDelete
  4. Anonymous12:22 pm

    City man.
    Don't know where to ask this question, but I figure you may have heard something.

    Is there any truth to the rumours that the destruction of the "Post Office" is a deliberate state ploy, preparatory to some sort of state ownership, in order to introduce legalised mail surveillance, and other monitoring?

    Just something I heard, and became curious.

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  5. The herd mentality - would you want to be part of it?

    ReplyDelete
  6. Was Barclays a Nathan Rotschild-Waterloo-type play?

    ReplyDelete
  7. I'm thinking about buying some of these cheap 'big4' bank shares and sitting on them.

    Buy low and hold!

    ReplyDelete
  8. Anonymous8:32 pm

    steven.
    Too early to buy.
    More problems.
    Not bottomed yet.

    ReplyDelete
  9. ron - well, that would be the usual form.

    Nick - yup, good ways for the hedgies to trade though.

    mark - no more mention of Baker Street on this blog please!

    Anon - no idea on this. I thought the idea was to weaken it enough that no one would care when it was broken up and sold off. Seemed to be going quite well from that perspective.

    JH - nope.

    Sakerson - perhaps!

    Steven - I am with anon below, the market could still well drop by a couple of thousand points in the next year or so. Probably not, but high risk to invest at the moment.

    ReplyDelete
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