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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
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Share Price: 213.95
Bid: 213.90
Ask: 214.00
Change: 0.70 (0.33%)
Spread: 0.10 (0.047%)
Open: 213.30
High: 215.15
Low: 212.60
Prev. Close: 213.25
BARC Live PriceLast checked at -

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Broker snap: Barclays under a Basel III cloud

Thu, 07th Oct 2010 12:42

Nomura Securities has reiterated its neutral stance on banking giant Barclays , arguing that the potential for a re-rating remains limited while the bank faces regulatory pressures in the form of the Basel III guidelines for capital and banking regulations.By Nomura's reckoning Barclays Capital, the investment arm of Barclays, contributes around half of the group's normalised profits, but the proposed regulatory changes will lift the division's risk weighted assets to a little under two-thirds of the group total. "Higher capital requirements would reduce the effective RoE [return on equity] implied by our current normalised PBT [profit before tax] assumption at BarCap to 7% and limit group RoE to 10%," Nomura analyst Robert Law projects. Law sees Barclays' core Tier 1 (CT1) ratio being around 8.5% at the end of 2012. Though this is within the new Basel III guidelines Law notes it would be the lowest CT1 ratio among the UK banks, leaving the door open to pressure from the regulators to strengthen it further in view of the group's slightly racy business mix. Bob Diamond, due to assume the mantle of chief executive officer at the bank, has, however, indicated the group does not intend to raise equity from shareholders, the broker observes.Though bullish on the sector as a whole, Nomura is agnostic when it comes to Barclays."There is a case that the group needs a major repositioning to improve BarCap returns and change the group shape. Although strategically desirable, this could prove dilutive in the short term. That said, the shares do have valuation attractions at 0.92x our estimate of year-end tangible book value - among the lowest of the large European banks but in line with global peers such as Deutsche, Goldman Sachs and Morgan Stanley," Law concludes.
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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 
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CPPGroup PLCAGM
Just Group PLCAGM
Macfarlane Group PLC AGM
Plus500 LtdAGM
Supernova Digital Assets PLCAGM
Wednesday 8 May 
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Antofagasta PLCAGM
Aston Martin Lagonda Global Holdings PLCAGM
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Fidelity European Trust PLCAGM
Haleon PLCAGM
Jardine Matheson PLCAGM
JZ Capital Partners LtdEGM re investing in a secondary fund
Oscillate PLCAGM
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Rentokil Initial PLCAGM
WPP PLCAGM
Thursday 9 May 
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BAE Systems PLCAGM
Balfour Beatty PLCAGM
Barclays PLCAGM
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Genel Energy plcAGM
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Hiscox LtdAGM
IMI PLCAGM
Inchcape PLCAGM
Indivior PLCAGM
John Wood Group PLCAGM
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Man Group PLCAGM
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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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Barclays to cut jobs in investment banking - reports

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NEW YORK April 29 (Reuters) -

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