Barclays

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.

Barclays saw its pre-tax profits fall by a third during the first half of the year, with PPI claims and reduced bond trading activity hitting earnings.

Shares in Barclays and its peers moved higher in early trading despite the bank's move to settle PPI claims.

A group of 55 economists believes the Monetary Policy Committee will maintain interest rates at 0.5% this week, as manufacturing and services surveys show the UK economy is slowing.