Barclays Plc owns 50.1 per cent stake in Barclays Africa Group, the owner of Barclays Bank Kenya. Barclays Plc stock tumbled by more than 10 per cent setting off the automatic circuit breakers to momentary halt its trade. The shares of Barclays Africa's London-based parent company Barclays Plc were suspended from trading yesterday as volatility continued at the London Stock Exchange four days after the Brexit vote. Circuit breakers are put in place to curb panic-selling on the stock markets and excessive volatility of share prices. Tripping the circuit breakers sets off standard auction period lasting about five minutes that will allow investors to trade and the market to find a new price, before opening again.

Source: The Star June 28, 2016 01:52 UTC