Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video 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: 214.25
Bid: 214.25
Ask: 214.35
Change: -2.50 (-1.15%)
Spread: 0.10 (0.047%)
Open: 215.35
High: 215.35
Low: 213.60
Prev. Close: 216.75
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Lloyds downgraded on Exane's bleak outlook for sector

Wed, 13th Jan 2016 08:49

(ShareCast News) - Exane BNP Paribas has downgraded Lloyds Banking Group from 'neutral' to 'underperform' and reiterated its 'underperform' rating for Barclays on a bleak operational outlook for UK banks.In a note to investors on Wednesday, it said comments from the Department for Business, Innovation & Skills (BIS) and the Bank of England's Financial Policy Committee (FPC) have led it to soften its view on capital.That in turn has forced Exane BNP Paribas to expect lower than consensus dividends over the next three years.On top of that, the investment bank believes the operational outlook for the sector is increasingly bleak."We cut 2017 EPS estimates by an average of 4% to reflect slightly lower margin and slightly higher impairment assumptions - driven by a more rapid reduction in releases and recoveries."It said Britain's potential exit from the EU could also push up the sector's risk premium ahead of the referendum.Exane BNP Paribas' concerns about Lloyds Banking Group's margin and impairment have increased since it last downgraded the stock in September 2015."We also think the cost income target of 45% by 2018, set just one year ago, is now unachievable," the note said."Distribution potential is also debatable, and we think the bank will be able to pay just 12p of dividends (or the equivalent in buybacks) over the next three years, well below some market estimates."The investment bank also believed Barclays should raise capital given how tight it is operating against end-point requirements."Even if this capital was not ultimately needed, we believe it could be used to significantly enhance earnings through a LME on its subordinated debt."It said if the bank did this, Exane BNP Paribas' might look more positively on the stock.Its target price on Barclays was dropped 14% to 215p, while it dropped the target price of Lloyds 5% to 74p but raised Standard Chartered's target price 3% to 515.The note also highlighted that RBS remains the investment bank's only 'outperform' rating.Lloyds shares dropped marginally on the downgrade, down 0.26p (0.38%) to 69.04p, while Barclays was up 3.02p (1.49%) to 205.37p at 0908 GMT.
More News
9 Feb 2024 07:59

TOP NEWS: Barclays buys Tesco Bank as supermarkets refocus on food

(Alliance News) - Barclays PLC and Tesco PLC on Friday announced an agreement for Barclays to buy the retail banking business of Tesco Bank, as the big UK supermarkets scale back their forays into financial services.

Read more
9 Feb 2024 07:51

LONDON BRIEFING: Barclays buys Tesco's retail banking business

(Alliance News) - Stocks in London are called to open higher on Friday, closing off a busy corporate week.

Read more
9 Feb 2024 07:03

Tesco sells banking unit to Barclays for £600m

(Sharecast News) - UK supermarket giant Tesco has sold its most of its retail banking business to Barclays for £600m, the two companies said on Friday.

Read more
4 Feb 2024 11:12

Sunday newspaper round-up: Asda, Barclays, McLaren

(Sharecast News) - Zuber Issa, one of the two billionaire brothers at the helm of Asda, has been sounding out potential buyers for his 22.5% stake in the grocer. Instead, Zuber wishes to focus on EG Group, their petrol station empire. Meanwhile, Asda's next phase may include a bid for Boots. According to City sources, it was also possible that Zuber might use the funds raised through a sale to fund the purchase of his brother's stake in EG Group. - The Sunday Telegraph

Read more
26 Jan 2024 17:39

Texas bans Barclays from local govt debt business over ESG concerns

NEW YORK, Jan 26 (Reuters) - Texas Attorney General Ken Paxton on Friday said Barclays bank would not be permitted to underwrite municipal bonds after failing to respond to questions from state authorities about its pledges to cut greenhouse gas emissions.

Read more
26 Jan 2024 17:08

Texas bans Barclays from local debt business over ESG concerns

NEW YORK, Jan 26 (Reuters) - Texas Attorney General Ken Paxton said on Friday that Barclays bank would not be permitted to underwrite municipal bonds after failing to respond to questions from state authorities about its carbon emissions reduction commitments.

Read more
25 Jan 2024 10:36

BoE says 'ring fencing' capital rules for retail banks need no big overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked satisfactorily with no major overhaul needed.

Read more
25 Jan 2024 10:05

Bank of England says 'ring fencing' capital rules for retail banks need no major overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked "satisfactorily" with no major overhaul needed.

Read more
23 Jan 2024 12:37

UK Chancellor Hunt meets top UK bank heads over plans to boost City

(Alliance News) - Jeremy Hunt has met the UK's biggest banks as part of efforts among the government to boost interest in the City.

Read more
22 Jan 2024 17:14

European shares rise as Wall Street rallies; ECB decision in focus

Kindred jumps on takeover bid from FDJ

*

Read more
22 Jan 2024 16:59

London stocks climb as homebuilders shine, China weakness drags miners

Barclays up after bullish view from MS

*

Read more
22 Jan 2024 08:34

LONDON MARKET OPEN: FTSE 100 follows New York into the green

(Alliance News) - Stock prices in London opened higher on Monday, propelled by gains on Wall Street at the end of last week.

Read more
19 Jan 2024 09:28

LONDON BROKER RATINGS: BofA cuts Pearson, raises Just Eat Takeaway

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

Read more
18 Jan 2024 14:33

Britain's finance minister Hunt to quiz bank bosses on UK lending

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.

Read more
18 Jan 2024 09:26

Sainsbury's to gradually withdraw from banking

LONDON, Jan 18 (Reuters) - British supermarket Sainsbury's said on Thursday it would wind down its banking business and instead offer financial products through third parties, as part of a strategy to focus on its core retail operations.

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.