Barclays sale 'removes overhang' in share price

Barclays today became the fastest faller in the FTSE All-share index, losing an eighth of its worth on news that an Abu Dhabi investor was selling the bulk of a stake acquired controversially barely six months ago, but at least one investor backed the move, saying it removed a shadow hanging over the stock.

The stock shed 13% to 274.25p by 07:41 GMT from yesterday's 316.25p closing level after Barclays confirmed the International Petroleum Investment Company, wholly owned by the Abu Dhabi government, is to sell most of its stake.

WSJ Logo
Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire