Barclays slides on FTSE 100 as bank reports quarterly loss

<p>Barclays shares are lower after the bank reported a quarterly loss.</p>

Barclays has lost some ground on the FTSE 100 this morning (October 31st) after the major financial institution announced a pre-tax statutory loss of £47 million for the third quarter of 2012.

This is against a £2.4 billion profit made in the same three-month period in 2011, taking profits for the first nine months of the year to £5.9 billion – up 18 per cent.

Barclays' loss reflects the challenging year the bank has had and this latest report comes after charges to cover the payment protection insurance (PPI) mis-selling disgrace.

Chief executive Antony Jenkins – who took over Bob Diamond's old job when he stepped down in the midst of the rate-rigging scandal – said: "While we have much to do to restore trust among stakeholders, our universal banking franchise remains strong and well positioned."

At 08:40 GMT, Barclays was down by 3.2 per cent on the FTSE 100 to 231.15p per share.

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