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Trading Suspended In Barclays And Rbs As Uk Bank Shares Crash

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Trading in bank shares was suspended this morning as the value of UK lenders tumbled in response to the vote to leave the EU. Barclays is currently down 10 per cent on Friday's close at 138p, while RBS is down by 14 per cent. The fall follows sharp losses of around 20 per cent for both banks during trading on Friday. Financial giants Barclays and Royal Bank of Scotland (RBS) both fell more than ten per cent by mid-morning as markets increasingly turn on stocks perceived to most at risk from prolonged uncertainty over the UK's relationship with Europe.

The fall was so steep at the FTSE 100 banks it triggered circuit breakers on the London Stock Exchange, which automatically bring trading to a five minute halt if a stock falls by more than eight per cent from its opening price.

City AM

Edited by rollover

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A couple of sites that I use to keep a glance on share prices are showing the banks as the same share price on Thursday.

I am not sure what some of the share prices of UK stocks are at the moment to be perfectly honest, getting different prices all over the place from various sources. Not just banking stocks but supermarkets, insurance companies, etc.

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Barclays might be a buy at 90p. :D

Looking at the 10 year charts is amazing and just shows you how anything can happen.

According to the charts Barclays was worth 790 at one point in 2007 and 51 at one point in 2009.

Ouch.

This could well be an over-correction but I'm not sure I have the balls to put cold hard cash on it.

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Osborne's speech clarifying that Brexit is happening

Osborne's speech actually about saving HIS face and not the economy....

(1) Talking the future down.

(2) Preparing the country for a cataclysm, which he hopes to achieve to prove a point and punish the country for his loss...the first one in his life, survival bias to now had convinced Cammy's boys that they could never lose anything. Totally delusional and dangerous...all they had done til now was spin the roulette wheel and been lucky ten times straight.

The disingenuous c%%t. Get these bloody remainers out of Government.

Edited by crashmonitor

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Banks and Builders are in freefall.

There is now no doubt the bankers economic miracle and the housing bubble is build off the back of an ever increasing population model.

AKA A F**KING PYRAMID SCAM

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Guest BillyNI

I've got most of my business savings in Barclays, above the government protected limit. Should I be worried?

I was in the same place, but I've moved my money to different providers to ensure protection.

Virgin Money has a decent rate at the moment.

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If you have any more than £75K in one place, get it moved. Seriously.

Why have that risk.

Edited by JoeDavola

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Only if you ever need your savings back.

Hoarding Cash in Vaults Seen More Attractive After Brexit Vote

Investors will consider hoarding cash in vaults as government bond yields fall deeper into negative territory following the U.K.’s vote to leave the European Union, according to Talanx AG, Germany’s third-biggest insurer. “Storing physical cash as an alternative to paying negative interest rates does look increasingly attractive,” Chief Financial Officer Immo Querner said in an interview.

Edited by rollover

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There are two effects going on here, and it is difficult to work out which is dominating.

Sure, brexit has caused a major upheaval in the UK and world markets. It is likely that there will be changes in investment strategies, and the UK is likely to suffer an economic downturn for at least a short while.

But also the financial markets had bet hard on remain, and these bets are being unwound right now. This isn't something that can be put off - the terms of their trades call for resolution at this time. Beyond this, momentum traders have moved in, shorting the market and hurting those who need to sell. This part of the reaction will correct itself over the next few days. Only then will we be able to see the full predictions of the market of the medium-term future of the economic UK.

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Have my savings spread over four accounts with different banks all below the £75K limit. Hope this enough?

Not quite sure what else to do - I've been in cash all my life despite the wild swings of the market during that time.

Anything else, especially at the moment, just seems like gambling.

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