“Source One International”–Banking Int’l-(Abu Dhabi Dumps Barclays)

“Source One International” on the message behind the large sale of Barclays shares.
 
 
Barclays Bank
Barclays Bank
June 3, 2009 - PRLog -- “Source One International”: If proof of investor sentiment towards global financial stocks were needed, it was starkly provided as news emerged that an investment firm linked with the Abu Dhabi Royal Family, unceremoniously dumped 1.3 billion shares of UK banking giant, Barclays.

Asian-centered investment broker, “Source One International” is thought to believe that the event demonstrates that even investors with the deepest pockets are not confident about holding financial stocks for the long-term.

By all accounts, PCP Gulf Invest 1, was seen as a strategic investor in for the long haul, but the firm decided to bank profits in the order of £1.46 billion. Unsurprisingly, the share price declined sharply in London trading, losing over 15%.

“Source One International” has staunchly maintained its bearish stance on financial stocks in Western economies citing real estate markets - upon which many of their toxic assets are based - that are still declining while consumer and corporate debt exacerbate the situation.

Shares in Barclays have risen sixfold since the beginning of the year but are unlikely to rally to their recent highs given the outlook for the UK economy and the profits they can expect to make.
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Source:Dennis Paulson
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Tags:Sourceoneinternational, Source One International
Industry:Banking, Finance, Business
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