Guido reporting - POUND PLUNGES AS BARCLAYS SHARES SUSPENDED +++

Guido reporting pound plunging as Barclays shares suspended.

Update Reuters has the following apparently shares were suspended for technical reasons.

Further update here statement from Barclays

"There is absolutely no substance to those rumors," a spokesman for the bank said when asked about a possible $10 billion writedown.

He gave the same response when asked if the bank planned an emergency rights issue or if John Varley, its chief executive, or Bob Diamond, head of its Barclays Capital investment bank unit, planned to resign.

He declined to comment on talk that the bank may issue an emergency statement, but reiterating it planned to issue a trading update on Nov 27. By 1220 GMT Barclays shares had pared losses and were down 4 percent at 466.5 pence.

Update 13:05 FT reports here

Poster (Lennon) on Political Betting reports

"In order to attempt to ease panic - a word of explaination. Shares were not suspended but placed into a volatitily auction. This happens on any share where large moves happen to ensure attempting to equally match buyers and sellers. Barclays has since come out stating that there is ‘No Substance’ to rumours of a £10Bn write-down in values."

Guy Fawkes' blog of parliamentary plots, rumours and conspiracy: +++ POUND PLUNGES AS BARCLAYS SHARES SUSPENDED +++