The announcement that Antony Jenkins has been appointed as chief executive of troubled U.K. bank Barclays helped stave off bigger losses for the shares on Thursday, following the announcement of a new investigation into the lender.
Analysts welcomed the internal appointment. Jenkins, who comes from the retail and business side of the bank rather than its much-criticized investment banking operations, was viewed as the leading internal candidate. (Read more: New Barclays CEO to Lead ‘Root and Branch Review’)
Barclays share price, which has risen by 6 percent relative to the sector in the past month, as it clawed back some of the losses following revelations its traders manipulated the London interbank offered rate (explain this), was down slightly in early trade Thursday.