|
|
Article: Barclays hit by Lloyds cash call.(Business)
- Article from:
- Daily Mail (London)
- Article date:
- October 14, 2009
CopyrightCOPYRIGHT 2009 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: MARKET REPORT by Geoff Foster
SELLERS were all over Barclays like a rash and the close was 12.65p lower at 360.05p. Fund managers happily jumped ship in order to raise cash for the expected fundraising from Lloyds Banking Group, 1.89p off at 89.6p.
They know that Lloyds has lined up six investment banks to help mastermind a mammoth rights issue of up to [pounds sterling]15bn so that it can reduce its reliance on the government's Asset Protection Scheme. Confirmation is expected soon.
Exerting further downward pressure on Barclays was persistent industry gossip that Bob Diamond, president of its successful Barclays Capital investment ...