LONDON, Feb 27 (Reuters) - Barclays shares fell in early trade on Friday after a report in the Times said the company faces potential losses related to the collapse of UK mortgage provider Market
Barclays Faces Potential Losses Amid MFS Collapse Concerns
LONDON, Feb 27 (Reuters) - Barclays shares fell in early trade on Friday after a report in the Times said the company faces potential losses related to the collapse of UK mortgage provider Market Financial Solutions (MFS).
By 0822 GMT. shares were down 1.1% at 467 pence per share, underperforming the FTSE 350 index of bank stocks, which was up 0.18%.
Barclays' Market Impact and Response
Barclays did not immediately respond to request for comment.
The Times reported Barclays has 600 million pound ($809.70 million) exposure to MFS. Citi said that the figure may warrant some caution.
"Arranging a loan is very different to retaining that risk on B/S (balance sheet)," Citi said.
Citi's Analysis on Barclays' Exposure
"Also not clear if/how much could already be provisioned against (if anything)."
Shares in Jefferies Financial Group fell 3.4% on Thursday after Bloomberg reported that the company had an exposure of about 100 million pounds to MFS.
($1 = 0.7410 pounds)
Jefferies Financial Group's Exposure
(Reporting by Samuel Indyk and Lawrence White; Editing by Amanda Cooper)
