Barclays bid to reassure stock market

Barclays wrote an open letter to the stock market today in an attempt to reassure investors after a slide in its shares over the past two weeks.

Chairman Marcus Agius and chief executive John Varley said the letter was to “address the principal causes of concern which we are hearing”.

Barclays lost almost half of its value last week amid fears that it will have to turn to the Government for funding help.

The bank said it will now release its financial results early, on February 9, and the letter said profits would be “well ahead” of the £5.3bn (€5.5bn) forecast in the City.