Barclays

A pair of Walker Crips funds run by Steve Bailey and Jan Luthman are set for a boost as major holding Hamworthy received a bid approach this morning.

Barclays has written down the value of its stake in asset manager BlackRock after a sharp fall in the US firm's share price.

UK banking stocks drove this morning's FTSE 100 rally, with Barclays, RBS and Lloyds all surging roughly 6% on the news a eurozone debt deal has been reached.

The Independent Commission on Banking (ICB)'s plans to ring-fence will have a very limited impact on the UK's economic output, according to Ernst & Young.

Proposals to ring-fence UK-based banks could dent profits by up to 15% within three years, according to Morgan Stanley research, the Telegraph has reported.

Analysts are underestimating the extent of the problems facing the banking sector, in a scenario reminiscent of the collapse of Lehmans, said Colin McLean, managing director of SVM.

Walker Crips managers Steve Bailey and Jan Luthman have cut exposure to gold ETFs by 20% deeming it a ‘crowded trade'.

The UK's index of 100 leading shares fell 2.76% to below 5,000 this morning, as global markets showed no signs of shaking off fears the West is heading back into recession.

Standard Life Investments' Ed Legget has bought into Barclays in both his £447m UK Equity Unconstrained and £67m UK Equity High Alpha funds to take advantage of its depressed share price.

The UK's major banks remain on course to meet their targets for lending to businesses as part of their commitment to Project Merlin.