Barclays Share News (BARC)

Barclays shares dropped five per cent after Qatar disposed of its remaining warrants in the bank, pulling the entire banking sector lower. Even a boost from JP Morgan, which raised its target price from 250p to 320p and upgraded the stock to overweight, was not enough to stop the group falling. The transaction, which is expected to yield a $280m profit for Qatar, saw both Deutsche Bank AG and Goldman Sachs agree to sell as many at 303.3m shares, equal to £740m, at 244p a time. Although the conversion of the warrants would provide Barclays with £750m, it would dilute other investors' holding in the group. Originally, the warrants formed part of a deal with Qatar investors in an attempt to avoid taking emergency funding for the UK's government. The news dragged Royal Bank of Scotland and Lloyds lower. Meanwhile, Aberdeen Asset Management took a hit after Peel hunt downgraded the stock to hold, but increasing its target price by 15p to 365p, based on its strong share price outperformance and its sector-leading valuation. The company announced a 15% full year increase in underlying profit before tax, to £347.8m, versus £301.9m a year ago. Polymetal also fell after it was reported that the group has lost 700 tonnes of gold ore after a cargo ship carrying the ore went missing of the coast off Russia. The company has released a statement saying that the responsibility for the cargo "lies with the freight carrier". Meanwhile, analysts at UBS have today issued an upbeat note on shares of British Land so as to reflect the company's lower risk profile and growing earnings potential. The broker states that: "Historically, we have been concerned about British Land's ageing portfolio. However, although the company's lease lengths have shortened, the company has been turning these from a threat into an opportunity. We (...) note management's success in potentially timing the lease expiries in harmony with the delivery of new space." IAG got a boost from Espirito Santo, which has raised its target price from 100p to 140p, although reiterated its sell recommendation on the stock. Typically 'safe haven' stocks, British American Tobacco and Imperial Tobacco Group, were both given a boost by the decline seen in banks and across the FTSE in general. FTSE 100 - RisersInternational Consolidated Airlines Group SA (CDI) (IAG) 170.70p +1.01%British American Tobacco (BATS) 3,252.00p +0.87%Resolution Ltd. (RSL) 235.70p +0.81%BAE Systems (BA.) 312.80p +0.81%Imperial Tobacco Group (IMT) 2,499.00p +0.60%National Grid (NG.) 715.00p +0.56%Experian (EXPN) 1,032.00p +0.49%Sage Group (SGE) 309.20p +0.49%Unilever (ULVR) 2,385.00p +0.42%Bunzl (BNZL) 1,069.00p +0.38%FTSE 100 - FallersBarclays (BARC) 241.05p -5.17%Royal Bank of Scotland Group (RBS) 286.20p -2.65%Randgold Resources Ltd. (RRS) 6,490.00p -2.48%Lloyds Banking Group (LLOY) 45.37p -2.24%Petrofac Ltd. (PFC) 1,596.00p -2.09%Polymetal International (POLY) 1,076.00p -2.09%Kazakhmys (KAZ) 679.00p -2.09%Tullow Oil (TLW) 1,367.00p -1.87%Old Mutual (OML) 168.10p -1.75%Aberdeen Asset Management (ADN) 336.80p -1.72%NR