Barclays drags down FTSE

Barclays shares dived 9% today during another rollercoaster session for investors.

Rumours of a US$10bn (€6.8bn) write-down rocked the company’s share price, as the City continued to fret about the fall-out from the US sub-prime mortgage crisis. Barclays insisted the speculation had no substance, causing its shares to recover and close 2% lower, or 11.75p down at 474.5p.