FTSE up 46 points

Barclays shares surged 64% today after management moved to reassure shareholders in the wake of a nine-day losing streak for the bank.

FTSE up 46 points
Mon, 26 Jan, 2009 - 11:30

Barclays shares surged 64% today after management moved to reassure shareholders in the wake of a nine-day losing streak for the bank.

An open letter from chief executive John Varley and chairman Marcus Agius reminded investors that Barclays was on track to exceed 2008 market forecasts of £5.3bn and said the bank had no need for government assistance.

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