Barclays rally brings FTSE up

Barclays shares jumped 72% today after the bank took unprecedented steps to reassure investors that it remained well-funded and profitable.

Barclays rally brings FTSE up
Mon, 26 Jan, 2009 - 17:34

Barclays shares jumped 72% today after the bank took unprecedented steps to reassure investors that it remained well-funded and profitable.

An open letter from chief executive John Varley and chairman Marcus Agius told investors that Barclays was on track to exceed 2008 market forecasts of £5.3bn (€5.6bn) and said the bank had no need for government assistance.

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CourtsBusinessHeathrowPerson: John VarleyPerson: Marcus AgiusPerson: Travis PerkinsPerson: HendersonOrganisation: BarclaysOrganisation: FTSEOrganisation: Lloyds Banking GroupOrganisation: Royal Bank of ScotlandOrganisation: HSBCOrganisation: AvivaOrganisation: PrudentialOrganisation: Friends ProvidentOrganisation: F&C Asset ManagementOrganisation: FriendsOrganisation: F&COrganisation: WolseleyOrganisation: BSSOrganisation: British AirwaysOrganisation: New Star Asset ManagementOrganisation: FootsieOrganisation: London Stock ExchangeOrganisation: Balfour Beatty
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