BARCLAYS is working with its auditor Price Waterhouse Coopers to provide a detailed review of its financial performance when it releases its trading statement later this month.

The decision to give financial figures with its trading statement on November 27 is a break with tradition. The company normally uses just words to guide the market, but Barclays has decided to change tack in an attempt to quell market speculation about its potential exposure to sub-prime loans.

On Friday, Barclays shares were briefly suspended after rumours swept the market that John Varley, the chief executive, and Bob Diamond, head of Barclays Capital, had resigned and the bank was facing a $10 billion black hole - a rumour that was categorically denied.

However, in a bid to end further speculation Barclays will provide details of how its investment-banking arm Barclays Capital traded in October as well as to the end of September.

But Varley is understood to see no need to bring forward the date of the trading statement. Some analysts believe the market rumours have been deliberately planted by hedge-fund managers to drive down bank shares. Over the course of the last two Fridays, Barclays has been hit by runs on its share price.

The bank is using PWC to ensure that the guidance it is giving the market is correct. It is thought the Barclays board, which has been in regular contact with City regulators, has still to decide on the level of financial detail it will provide. But the fact Barclays is breaking with tradition shows just how concerned the banks are.

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