Barclays today became the fastest faller in the FTSE All-share index, losing an eighth of its worth on news that an Abu Dhabi investor was selling the bulk of a stake acquired controversially barely six months ago, but at least one investor backed the move, saying it removed a shadow hanging over the stock.

The stock shed 13% to 274.25p by 07:41 GMT from yesterday's 316.25p closing level after Barclays confirmed the International Petroleum Investment Company, wholly owned by the Abu Dhabi government, is to sell most of its stake.