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Https://uk.finance.yahoo.com/news/terry-smith-never-invests-banks-130000308.html
@JamesYoung, that would basically take the share count to 2013 level before the capital raise. Shares were around 300p then.
@jayK, yea you can only give verdict on personal experience really, back in the day my Tuscan(speed 6) was back and fore like a yo yo, I had an early Mclaren12c it was rapid, super handling but very unreliable, newer ones may be better let\s see, you are right about Porsche though I've had 3 macans all had to have new transfer boxes under warranty, a 991.2 with coolant issues, and my daughter's 718S is in Lovetts as we speak requiring a new turbo!! luckily all under warranty...
The Guardian gives its views.
Again, worth a read.
Regards, MrA
https://www.theguardian.com/business/2024/feb/20/nice-targets-but-scepticism-is-hard-to-shake-at-barclays
Uphill battle at Barclays, says Third Bridge
Barclays (BARC) needs to cut staff by 20% in order to reach its £2bn cost-saving target, as the bank fights an ‘uphill battle’, says Third Bridge.
The Citywire Elite Companies AAA-rated bank announced plans to win over shareholders, including a cost-cutting drive that will save £2bn by 2026, a management shake-up, and £10bn of dividends and buybacks over the next three years.
Third Bridge analyst Max Georgiou said to achieve its £2bn target, a ‘20% reduction in headcount is needed’ but this would not impact day-to-day operations.
‘Previous cost reduction programmes have not been executed effectively, in some part due to its political culture,’ he said.
‘A coherent strategy is needed for future success but is an uphill battle.’
Georgiou added that further compression in net interest margin, or the difference between the interest earned on loans and the interest paid to depositors, is expected as interest rates stabilise and pressure from competitors grow for deposits.
Shares in the bank rose 4.6%, or 7p, to 156p on the announcement of the cost cuts on Tuesday, but are still down nearly 10% over the past year.
https://citywire.com/wealth-manager/news/stock-talk-barclays-needs-to-cut-staff-by-20-says-third-bridge/a2436642
Anyone know the dividend dates /amounts? 😂😂😂
I just couldn’t resist MrWolf. Have a Good Weekend.
Evening One and All,
Now as the dust starts to settle, the views of Reuters following Tuesdays Annual Results.
As I have mentioned before Reuters are rarely wrong and I am struggling to disagree with their detailed summary here.
Definitely worth a read in my humble opinion.
Regards, MrA.
https://www.reuters.com/business/finance/barclays-maps-uncertain-route-simpler-stronger-future-2024-02-20/
Https://uk.finance.yahoo.com/news/barclays-must-face-u-shareholder-154520738.html
In past a few days, Morgan Stanley increased their price target for BARC from 235p to 255p. Morgan Stanley has always been on the optimistic side. Bank of America increased the target price from 160p to 170p. BoFA claims Barclay still has a tough problem to solve.
RNS news shows BARC started buy back yesterday. If price stays around 165p, BARC can buy back 606M ordinary shares for this round. For 3 years, they can reduce 3.64B shares and assume they issue 600M for employee incentive plan, net reduction of share counts will be ~ 3B shares. This will reduce the share counts to ~ 12B, TBV will increase to ~420p. They will make 42p to 50p a share after 2026. Dividend will also increase above 6% when they keep the total dividend amount constant.
I’m out. The US is too hot at the moment and record highs there have spooked me. I fear a crash may be coming which will ripple across to the UK. . With these tech stocks going through the roof it feels a lot like the internet bubble all those years ago and we know that ended in tears.
Caution needed.
Makros, a lot of Friends have them and have had them for many years 650S, 570, 675, 765 and they are fairly robust unless you read too much internet. My close mates new Porsche 911 992 is full of shocking faults and its new. I won't warranty, I never do, check out V-engineering who will look after them.
@trouts, yep since 27 oct 23 recent lows ,Dow up around 20% Dax 17%, and of course ftse 100 laggard 5%, says it all really....
@jakK, nice thought the 250's me too, but don't buy a mclaren unless you've got factory warranty plus want to spend a lot of time drinking coffee in the dealerships while its being repaired , nice but unreliable- a modern day TVR!!
There's a party going on all over, even Europe hitting all time highs... It's just the UK isn't invited. Our market is still stuck around the pre-covid level *sigh*.
Its going to the moon!! Lol - 250 by summer, I can't see it unless we see a major turn in the UK economy to be honest. The markets in general aren't too bad but nothing is really convincing me of a bull market yet which is what I think it would need. I am long and still holding, if its £2.50 by summer I am buying my Mclaren a year earlier, so I hope it does! Have a good Friday everyone.
Don't beat yourselves up over a few potential pips, it was a wise move considering past performance.
Yesterday's volume buy from Golds (buying back) hardly touched the sides, the thing is there was a lot of momentum (which I like to disguise myself amongst) though fairplay to them, least they timed it right on the button of yesterday's low.
Back in the old days it was a matter of pushing the calculator to get any kind of idea of a drop off.
These days the software / bots eat trades up on average of 4/500 a second, Joe Average hasn't got a Scooby Doo.
Take the typical retail trader, you can spend 4hrs / 4 days researching a trade, only to find out the big boys went against the same position a week earlier.
Take both previous year end final reports, it was the usual scenario "let's have a drink later mate" young fund managers and sniff have always gone hand in hand.
Hence the phrase "Sell the news" by the time the news is dropped, half a dozen floor rats have spilled their guts weeks earlier, in some wine bar after work.
Sad fact, though always the case !
Personally I would not like to hold through a dividend on the likes of Barclays, unless I had plenty of wiggle room when it adjusts, take past finals out of the question and evaluate this year.
1. Treasury Bonds doing better atm
2. IB should start picking a moderate return by end of March / April
3. The buybacks only previously cushioned 50% of the actual drop offs (momentum / volume ) hence difficult to suss exact target areas.
4. This quarter Q1 looks very muddy atm, the real money that chips us up, will only be trickled charged until we see a strong return on the next results, Feb / March are always a drain on our SP as there is nothing to offer, that makes much of a difference. The smoke and mirror buyback bonanza wont prop us up with support !
Unless the background market starts printing good news, "Green shoots" is what we need to start hearing.
5. One thing is for certain and I trust it 110% . . the charts clearly show one more 'clear out' before interest rates are able to balance back and allow some predicted clarity.
So the big question is, we have just slashed through a serious milestone (our old friend 200 ma) will this act as support, with retail interest and a few fund managers adding to their holdings or will we just fall back to test ground until clarity over the next quarter ?
Everyone else free to add their opinions, thats whats this is all about at the end of the day.
Not giving advice in any way, you only need to look at Monthly, Weekly, Daily trends and R&S keys ares, it's not rocket science.
Add in the fact we have been in consolation range the past 24 months, it certainly looks far, far better for us all.
174's looking sticky.
Lastly with the utmost respect and empathy to anyone sat on +£3 averages, there is still ground to cover sadly.
GLA
Since the recent results this thing seems to have shot its load!!, anyone with decent technical know how got some direction/targets they can share- thanks
Morning Mr A' & all
Despite your very informative post, one forgot to add - those who have invested via Dumb investor, may wish to wait until someone in the back office can be even ar$3d, to transfer the div funds into its own customer accounts !
Maybe they might trickle a few accounts over by Friday 5th April or even Monday the 8th , who knows ?
Interested to see who posts the usual questions "Anyone know the dividend dates /amounts?" without taking the trouble to even read below or click on the (very easy to direct) information links above lol.
If we reset the clock, who's going to claim the title for this years annually, most anticipated question?
// this looks odds on to go to 180 in next 2 weeks and then 250 in the summer.//
I admire your optimism.
Fair play to those who have taken a profit but unless there’s a world catastrophe this looks odds on to go to 180 in next 2 weeks and then 250 in the summer.
Good luck however you call it.
3.Dividends on ordinary shares
It is Barclays' policy to declare and pay dividends on a semi-annual basis. (Twice a year).
The 2023 full year dividend is 5.3p per ordinary share.
The Excluding Dividend Date is Thursday 29 February 2024.
Shareholders Recorded on the Share Register on Friday 1 March 2024 will receive a Dividend per Share.
Dividends will be Paid on Wednesday 3 April 2024.
Regards, MrA
https://home.barclays/investor-relations/shareholder-information/dividends/
Tophat,
Thanks for explaining 8.3 and 8.5 RNS
Basically Barclays own more than 1% of shares in a company which is subject to a takeover. Changes to the number of shares they own have to be reported to the market.
Could someone explain what all the 8.3 and 8.5 means as I dont understand this, hoping to learn
See Lloyds annouced they have set aside £450m for Motor Finance Claims in todays results update.
https://www.bbc.co.uk/news/business-68367430