As Bob Diamond's testimony on libor-fixing continues at the Treasury Select Committee, the stock market likes what it is hearing so far.
Ahead of the former chief executive's appearance, Barclays' shares were down 1.1p at 165.95p, but they are currently 2.75p better at 169.8p, up around 1.5%.
But with Wall Street closed for Independence Day and Diamond proving a distraction for traders, trading volumes are very thin. According to Reuters market volume was 681m before Diamond sat down, and is now just 732m, a small gain in 50 minutes or so. Earlier Gavan Nolan at Markit had rightly predicted:
The July 4 holiday in the US will probably see a subdued session in Europe, although ex-Barclays chief Bob Diamond's testimony to the UK parliament could depress volumes even more.
