Barclays shares fall as top investor sells stake

Reuters Videos
2 年前

STORY: Barclays share fell up to 6% on Tuesday (March 29) morning.

It comes after one of the lender's top investors initiated a huge share sale Monday (March 28) evening, equivalent to a 3.6% stake.

The unnamed investor is selling off 599 million shares in total.

Shareholders with around a 3% stake in Barclays include major investors the Qatar Investment Authority and U.S. investment firm Blackrock.

There was no immediate comment from either.

The sale comes as Barclays deals with a new compliance and risk blunder.

The British bank said Monday it lost around $589 million due to overselling structured products in the United States.

Barclays said it would have to delay a planned $1.3 billion share buyback due to the loss.

Shares in the bank clawed back some of their early slide, but were still down around 4% by mid-morning.