Update on Barclays shares suspension

More on the story that Barclay's shares were suspended for a period at mid-day today.

This really just goes to show how nervous the market is at the moment about the sub-prime crisis.

I note there is very little about the story in the MSM. Is this a sign that they have been asked to layoff in case of another run on a bank. BBC at this time(14:50) has only this story on Barclay's from a week ago. Maybe a sign of the "clunking fist" in action.

Maybe it's just lucky the weather storms are the main news rather than the Financial Storms.

Barclay's shares remain steady at the moment at 456.75 down 29.50 on the day.

Update at 17:46: Is some one playing with the market? This article from Robert Peston the BBC Business editor is quite interesting. Barclay's shares finished at 474.50 down 11.75 on the day.

Barclays shares suspended after plunge | This is Money

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 +++