London Stock Exchange, Barclays services hit by market crash due to computer outage

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The London Stock Exchange updates are among financial services that suffered disruptions on Friday due to a global IT outage that affected businesses around the world.

The LSE said securities trading was unaffected by the outage, but its regulatory information service was down on Friday morning.

A spokesperson said: We are currently experiencing a third-party technical issue that is affecting some of our services.

There is no impact on securities trading on the London Stock Exchange. We are working to resolve this issue as soon as possible and will continue to provide updates to our customers.

Elsewhere, a spokesperson for Barclays bank said its digital investment platform was also suffering disruption.

They said: All Barclays services are operating as normal at this time, with the exception of our Smart Investor digital investment platform, where customers are currently unable to manage their account in-app, online banking or by phone.

Other payment services, banks and financial institutions sought to reassure customers that their systems were operating without interruption.

Link, which operates the UK's ATM network, said its network was operating normally but that increased monitoring was in place as a precaution.

Investment banking giant Goldman Sachs is reportedly operating normally in the UK.

Payments giant Visa said it was not affected by the outage. A spokesperson said: “There is no indication that this issue is impacting Visa's ability to process payments.”

Our systems are operating normally.

Workers cannot move from point A to point B and this will impact entire industries if staff are not there to perform important functions or if systems are offline.

Dan Coatsworth

We are aware of reports of people being unable to make payments and are working with our financial institution clients to understand any impact on their services to cardholders and merchants.

London markets fell in value after news of the computer outage, which caused problems worldwide for banks, supermarkets, airlines and other major institutions.

The FTSE 100 fell 0.8% in early trading as investors were spooked that the outage could hit corporate earnings if it continued for too long.

Dan Coatsworth, investment analyst at AJ Bell, said: “Countless industries, from airlines and railways to banks and media, face disruption to their profits if they can’t do their jobs.”

Workers cannot move from point A to point B and this will impact entire industries if staff are not there to perform important functions or if systems are offline.

The severity of the problem depends on its duration. A few hours of outage is not a solution, but it is not catastrophic. A prolonged outage is another matter, which can cause damage to businesses and the economy.

Stock markets continued to operate normally despite news feeds and corporate information terminals being impacted by the technology outage.

Futures prices are pointing to a slight pullback when Wall Street opens later in the day, but so far investors have not shown any panic. Whether that will continue throughout the day remains to be seen.

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