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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

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Share Price: 213.10
Bid: 213.45
Ask: 213.55
Change: -4.10 (-1.89%)
Spread: 0.10 (0.047%)
Open: 217.55
High: 218.25
Low: 212.15
Prev. Close: 217.20
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Britain's finance minister Hunt to quiz bank bosses on UK lending

Thu, 18th Jan 2024 14:33

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

HSBC, Barclays, Lloyds Banking Group , NatWest Group and Santander UK are expected to take part in the meeting, Sky News reported earlier.

"They meet regularly and discuss lots of issues - as you'd expect," one of the sources told Reuters.

"They're fairly relaxed and unstructured meetings."

NatWest, Santander and Barclays declined to comment, while HSBC and Lloyds did not immediately respond to Reuters' request for comment.

In a bid to bolster London's competitiveness as a global financial centre post-Brexit, the Treasury has set out a series of reforms and is regularly meeting with members of the financial industry to gauge effectiveness of those plans, one source with direct knowledge told Reuters.

Sky News said the meeting will also include the London Stock Exchange as it battles against New York to attract company listings. LSEG did not immediately respond to a Reuters request for comment.

Further reforms to boost investment are expected from Hunt when he presents his budget in March, and the government typically sounds out market participants ahead of such events.

Sky said Tuesday's meeting would discuss concerns over the valuations of some banks, which have seen their share prices retreat in recent months.

Barclays shares, for example, have lost around 22% in value in the last 12 months, compared with a 8.5% drop in the FTSE 350 banking index and a 4% decline in the FTSE 100.

Two industry sources played down the idea that the drop in UK bank share prices had motivated the Chancellor to convene the meeting, or that this had had a direct bearing on banks' appetite to lend into Britain's economy.

One of those sources rejected any suggestion banks were failing to meet demand to borrow due to weakened share prices.

But lower share prices do have implications for shareholder returns, analysts have pointed out, meaning bank bosses could be tempted to channel greater proportions of capital into investor payouts or stock buybacks rather than loans or mortgages.

The Bank of England has repeatedly said that Britain's banks were capitalised well enough to keep lending to households and businesses. (Reporting by Andrew MacAskill, Sinead Cruise, Elizabeth Piper and Huw Jones. Editing by Jane Merriman)

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13 May 2024 10:51

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10 May 2024 11:17

JPMorgan still positive on UK banks despite potential rate cuts

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9 May 2024 12:08

Barclays AGM disrupted by activists protesting over Gaza

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9 May 2024 09:53

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(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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8 May 2024 16:45

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4 May 2024 08:37

Norway wealth fund to back Barclays CEO, chair at AGM

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3 May 2024 17:04

Ex-Odey portfolio manager Hanbury warns investors are 'buying blind'

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2 May 2024 13:48

UK shareholder meetings calendar - next 7 days

Friday 3 May 
Ashoka India Equity Investment Trust PLCGM re share issue
HSBC Holdings PLCAGM
Intercontinental Hotels Group PLCAGM
Mondi PLCAGM
More Acquisitions PLCAGM
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Caledonia Mining Corp PLCAGM
CPPGroup PLCAGM
Just Group PLCAGM
Macfarlane Group PLC AGM
Plus500 LtdAGM
Supernova Digital Assets PLCAGM
Wednesday 8 May 
Airea PLCAGM
Antofagasta PLCAGM
Aston Martin Lagonda Global Holdings PLCAGM
Deltex Medical Group PLCAGM
Direct Line Insurance Group PLCAGM
Fidelity European Trust PLCAGM
Haleon PLCAGM
Jardine Matheson PLCAGM
JZ Capital Partners LtdEGM re investing in a secondary fund
Oscillate PLCAGM
Pershing Square Holdings LtdAGM
Rentokil Initial PLCAGM
WPP PLCAGM
Thursday 9 May 
Ascential PLCAGM
BAE Systems PLCAGM
Balfour Beatty PLCAGM
Barclays PLCAGM
CAB Payments Holdings PLCAGM
Catenai PLCGM re convertible loan note
Clarkson PLCAGM
FBD Holdings PLCAGM
Genel Energy plcAGM
Gym Group PLCAGM
Harbour Energy PLCAGM
Hiscox LtdAGM
IMI PLCAGM
Inchcape PLCAGM
Indivior PLCAGM
John Wood Group PLCAGM
Jupiter Fund Management PLCAGM
Logistics Development Group PLCAGM
Man Group PLCAGM
Morgan Advanced Materials PLCAGM
OSB Group PLCAGM
Public Policy Holding Co IncAGM
Rathbones Group PLCAGM
RM PLCAGM
Spire Healthcare Group PLCAGM
Synthomer PLCAGM
Uniphar PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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1 May 2024 14:50

Barclays to cut jobs in investment banking - reports

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STOXX Europe 600 banks index highest since Oct. 2015

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26 Apr 2024 09:45

NatWest profit falls less than feared ahead of state escape

First-quarter profit down 27% in competitive market

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