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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: 216.75
Bid: 216.10
Ask: 216.15
Change: 1.85 (0.86%)
Spread: 0.05 (0.023%)
Open: 214.55
High: 216.75
Low: 214.55
Prev. Close: 214.90
BARC Live PriceLast checked at -

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Broker snap: Investec likes Barclays despite capitulation

Mon, 29th Jul 2013 11:33

Analysts at Investec are quite critical of any attempt by Barclays to raise fresh capital - which they think the lender does not need - at current valuations. In their opinion that would be tantamount to capitulating to regulators´ demands. "How very disappointing!" the write to clients. In fact, the broker would rather see an 18 month dividend suspension to raising the equivalent additional capital now at just 0.9x tangible net asset value [tNaV].In that same vein, they explain that if Barclays does raise as much as £4bn "surplus" equity, on which it will earn little return, then the incremental drag on return on equity [RoE] will likely limit their view on fair value to circa 345p (their current target). If Barclays had the courage to say no then they would see further upside; but sadly this appears less likely, they go on to tell clients. They do not believe Barclays would contemplate raising as much as £7bn in equity. A smaller sum, perhaps £2-4bn, seems plausible, even if unnecessary in their opinion.Investec would consider a partial mitigation - a scenario they see as likely - through the use of CoCos [Contingent convertible bonds] or CCNs [Capital contingent notes] to be an element of positive surprise.Notwithstanding likely near-term capital disappointment they retain a Buy recommendation and 345p RoE-growth/CoE-growth derived target price. Nevertheless, Standard Chartered (Buy) is their top pick, they point out. As of 11:31AM shares of Barclays were falling by 3.5% to 308.95p. AB
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11 Jan 2024 17:03

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Global activist investors pressed companies to sell or spin in 2023 as M&A dropped off

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IN BRIEF: Prudential to buy back 4 million shares to offset awards

Prudential PLC - London-based, Asia-focused life and health insurer and asset manager - Contracts Barclays Capital Securities Ltd, part of Barclays PLC, to conduct a share buyback programme that will repurchase about 3.9 million shares at a maximum cost of GBP38 million. At the current market price, 3.9 million Prudential shares are worth GBP32.3 million. The buybacks are intended to offset the dilution that will be caused by the vesting of awards under Prudential's employee and agent share schemes.

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Barclays extends lease on Canary Wharf headquarters until 2039

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