Shares in Barclays dropped sharply as shareholders balked at plans to raise £7.3bn ($11.8bn) in a deal that could leave as much as 30 per cent of the bank in the hands of two Middle Eastern investors
October has confirmed its reputation as one of the most punishing months for investors, with Japanese equities suffering their largest monthly loss and the S&P 500 index on course for its weakest performance in 21 years
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Shares in the UK’s leading fixed line phone company plunged after it warned on profits and made changes to senior management because of problems at its division serving the telecoms and IT needs of multinationals
The bank is raising up to £7.3bn of additional capital – including £5.8bn from investors in Qatar and Abu Dhabi – in a move that will allow it to boost its balance sheet without turning to the British state for cash
Life insurer Standard Life reported weaker than expected nine-month sales, sending its shares lower, but said its capital position was strong despite the stock market slump.
Executives were finalising terms of capital increase with investors including Qatari and Abu Dhabi investment authorities that would allow UK bank to escape going to British government for aid