Barclays shares fall on possible losses from collapse of Market Financial Solutions
summarizeSummary
Jefferies Financial Group has been identified with an exposure of approximately 100 million pounds to the collapsed UK mortgage provider Market Financial Solutions (MFS). This potential liability, equivalent to about $135 million, represents a material risk for the company, accounting for roughly 1.3% of its market capitalization. The news has already led to a 3.4% decline in Jefferies' shares on Thursday. Traders will be watching for further clarity on the actual losses and any provisions the company may make.
At the time of this announcement, JEF was trading at $48.96 on NYSE in the Finance sector, with a market capitalization of approximately $10.1B. The 52-week trading range was $39.28 to $71.04. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.