Market overview: Barclays bucks the trend on heavy volume

LONDON (ShareCast) - 1630:Close Equities have finished lower today, dragged down by the negative news-flow out of Greece, including the resignation of no less than two of the current government´s ministers. No less relevant, remarks from the German Finance Minister to the effect that Greece will not manage to lower its debt to target based on current proposals. The above, along with some 'hard to read' data out of China, contributed to weakness in metals´ prices, which in turn dragged on miners and on the wider market in general. Yet perhaps the most noteworthy stock of the day was not to be found on the leader board. We are talking about Barclay´s. The lender´s shares bucked the trend in the broader market, managing to close in the blue on noticeably heavier than normal trading volumes; buttressed apparently by management´s resolve to achieve its targets for return on capital. That constitutes a rarity of sorts these days. FTSE 100 (Euronext: VFTSE.NX - news) down 43 to 5,852. 1620: The Greek deputy foreign minister has just tendered his resignation as has, apparently, the agriculture minister, according to Bloomberg TV. FTSE 100 down 35 to 5,860. 1513: Tate & Lyle (EUREX: TATF.EX - news) is now the high riser on the Footsie (FTSE: ^FTSE - news) , as gains for Barclays (LSE: BARC.L - news) have been pared. Tate appears to be rebounding after yesterday's mixed third quarter statement disappointed investors. Copper miner Kazakhmys (Other OTC: KZMYF.PK - news) is the worst performer on the blue chip index currently, with copper futures dropping on the back of a stronger dollar and falling imports of the metals in China in January. Just released and weaker than expected consumer confidence data Stateside may also be giving some traders a good excuse to sell. FTSE 100 down 51 at 5,845. 1337: The selling has accelerated in the Footsie due to the negative news-flow now swirling around Greece. First (OTC BB: FSTC.OB - news) , apparently, came remarks from German Finance Minister Wolfgang Schaeuble to the effect that the measures agreed to so far by Greece are insufficient. Schaeuble is said to have told lawmakers today that Greece's plans would leave its debt as high as 136% of gross domestic product by 2020, versus the 120% foreseen in a €130bn-bailout being negotiated, Bloomberg News is reporting. On top of that, reports have surfaced that the leader of one of Greece´s political parties says he cannot vote in favour of those austerity measures. RBS (LSE: RBS.L - news) has sneaked into the bottom ranks of the top share index. FTSE 100 down 48 to 5,847. 1126: ICAP (LSE: IAP.L - news) is now the worst stock on the top share index following a downgrade from Goldman Sachs (NYSE: GS - news) to neutral from buy. The broker believes that within the diversified financials´ space investors will be better off favoring asset managers over market structure companies. Hence its down grade of the broker dealer. Man group (LSE: EMG.L - news) may also be getting caught in the downdraft of that recommendation. Anglo American (Berlin: NGLB.BE - news) is down after South African diamond miner De Beers, in which it owns a 45% stake, announced a reduction in its levels of production. FTSE 100 down 21 to 5,875. 0917: UK stocks are falling back a little now as a result of an up-tick in investors´ levels of risk aversion. This as time runs out on negotiations for a second Greek bail-out package, with a key vote expected in the Athenian parliament this weekend, on Sunday. Also weighing on sentiment (and metals´ prices and miners) is the weaker than expected Chinese trade data out last night. Barclays is now leading gains on the top share index. The bank has indicated that its capital position will be 'rock-solid' under Basel III. Following close behind are shares of retailer Next (Xetra: 779551 - news) , after Deutsche Bank (Xetra: 514000 - news) upgraded the latter company´s shares to buy from hold. On the negative side of things, interdealer broker ICAP is falling. Different media outlets are reporting on an expanding probe into the mechanisms for the setting of LIBOR. In fact, RBS is said to have dismissed several employees as a result of those investigations by the FSA and SEC. JP Morgan has downgraded National Grid (LSE: NG.L - news) to neutral from outperform. FTSE 100 down 17 to 5,878.