The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 217.20
Bid: 190.00
Ask: 219.00
Change: 0.00 (0.00%)
Spread: 29.00 (15.263%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 217.20
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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)

More News
15 Dec 2023 18:12

Britain's Metro Bank decides not to sell mortgage book

LONDON, Dec 15 (Reuters) - Britain's Metro Bank said on Friday it had abandoned its planned sale of a 3 billion pound ($3.8 billion) mortgage portfolio, citing market conditions.

Read more
14 Dec 2023 12:00

Fnality completes 'world's first' blockchain payments at Bank of England

LONDON, Dec 14 (Reuters) - Fnality, a blockchain-based wholesale payments firm, said on Thursday that shareholders Lloyds Banking Group, Santander and UBS had completed the "world's first" live transactions that digitally represent funds held at a central bank.

Read more
14 Dec 2023 10:51

France's Credit Agricole to stop financing new fossil fuel projects

Vows to triple financing of renewable energy projects by 2030

*

Read more
12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

Read more
12 Dec 2023 07:16

BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.

Read more
7 Dec 2023 16:55

Director dealings: Barclays chair invests, York Holdings settles LSEG call options

(Sharecast News) - Nigel Higgins, the group chairman of Barclays, was on the buying side of the ledger on Thursday.

Read more
7 Dec 2023 15:35

IN BRIEF: Barclays Chair Nigel Higgins buys 200,000 shares

Barclays PLC - London-based consumer, business and investment bank - Chair Nigel Higgins buys 200,000 shares at GBP1.3867 each, worth GBP277,340, in London on Thursday.

Read more
5 Dec 2023 15:26

London close: Stocks mixed as investors mull fresh data

(Sharecast News) - London's financial markets finished with a mixed performance on Tuesday as investors considered key economic data and developments from both sides of the Atlantic.

Read more
5 Dec 2023 09:05

LONDON MARKET OPEN: FTSE 100 struggles after Moody's warning on China

(Alliance News) - London's FTSE 100 got off to a slow start on Tuesday, with miners falling amid fears for the Chinese economy, while Barclays shares fell after Bloomberg reported Qatar is trimming its stake in the lender.

Read more
5 Dec 2023 08:01

Qatar almost halves stake in Barclays

(Sharecast News) - Banking giant Barclays was in the red early on Tuesday after its largest shareholder made moves to offload roughly £510.0m in shares.

Read more
5 Dec 2023 07:48

LONDON BRIEFING: Ashtead in record half-year; tinyBuild cuts outlook

(Alliance News) - London's FTSE 100 is called to open lower on Tuesday, continuing a lacklustre start to the week, after tepid trade in New York overnight.

Read more
30 Nov 2023 09:57

Lloyds to shut 45 branches

(Sharecast News) - Lloyds Banking Group is to shut another 45 branches, it was confirmed on Thursday, as lenders continue to downsize their estates.

Read more
28 Nov 2023 15:40

Barclays axes 900 staff in "disgraceful" pre-Christmas move - UK union

(Alliance News) - Banking firm Barclays PLC is cutting 900 jobs in its UK business as it looks to slash costs in a "disgraceful" pre-Christmas move, trade union Unite has said.

Read more
28 Nov 2023 15:30

London close: Stocks slip after mountain of broker notes

(Sharecast News) - London's stock markets finished in the red on Tuesday as investors deliberated over the latest shop price data, as well as a deluge of broker notes.

Read more
28 Nov 2023 08:52

PRESS: Barclays eyes dropping quarter of investment bank clients - FT

(Alliance News) - Barclays PLC is exploring the possibility of dropping thousands of its investment bank clients - a quarter of its total - amid a strategic overhaul to bolster its bottom line and cut GBP1 billion of costs, the Financial Times reported on Tuesday.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.