Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just 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: 184.62
Bid: 184.62
Ask: 184.64
Change: 3.10 (1.71%)
Spread: 0.02 (0.011%)
Open: 183.32
High: 184.66
Low: 182.82
Prev. Close: 181.52
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET CLOSE: Focus Turns To Brexit After Emphatic Tory Win

Fri, 13th Dec 2019 16:59

(Alliance News) - Stocks in London ended sharply higher on Friday following a resounding win for the Conservative Party in the UK general election, as attention now shifts to how the government can secure a favourable Brexit deal.

UK Prime Minister Boris Johnson pledged to heal the divisions of Brexit, as he returned to Downing Street after securing a crushing election victory over Labour Party.

Speaking on the steps of No 10 after Labour's "Red Wall" strongholds across the Midlands and the north of England fell to the Tories, the PM said he had an "overwhelming mandate" to take the UK out of the EU by the end of January.

With all 650 seats declared, Johnson's Conservatives ended with a majority of 80 - the party's best election performance since Margaret Thatcher in the 1980s.

Johnson declared that his party has "smashed the roadblock" and "ended the gridlock" as he hailed the emphatic victory.

European Council President Charles Michel congratulated Johnson on his victory, tweeting: "We expect a vote on the Withdrawal Agreement as soon as possible."

The FTSE 100 index closed up 79.97 points, or 1.1% at 7,353.44, ending the week up 1.6%.

The FTSE 250 ended up 21,507.79 points, or 3.4% at 21,507.79, ending the week up 2.8%. The midcap index hit an all-time high of 21,910.75 in early trade.

The AIM All-Share closed up 17.74 points, or 2.0% at 917.07, ending the week up 1.0%.

The Cboe UK 100 index finished up 0.9% at 12,460.70. The Cboe UK 250 closed up 3.8% at 19,430.12.53 and the Cboe UK Small Companies ended up 2.9% at 11,675.59.

In Paris the CAC 40 ended up 0.6%, while the DAX 30 in Frankfurt ended up 0.5%.

"Investors celebrate the prospect of an end to the current Brexit deadlock, and look towards the next stage of talks, which will focus on the political declaration and the prospects for trade. While these talks are expected to be more complicated than the withdrawal agreement, the fact that Boris Johnson has such a big mandate means that he has the luxury of being less exposed to any minority pressure groups within his own party, as well outside of it," said CMC Markets analyst Michael Hewson.

"This means he can probably afford to be more pragmatic about what to do, something that Theresa May found impossible when she lost her majority in 2017. He is also coming at from the direction of the UK already being aligned from a regulatory point of view, meaning that any agreement is likely to be about the amount of divergence," Hewson added.

In the FTSE 100, companies which are closely tied to the UK economy, such as housebuilders and domestic lenders, ended sharply higher.

Taylor Wimpey, Barratt Developments, Persimmon and Berkeley Group ended up 15%, 14%, 12% and 14% respectively.

Midcap housebuilders, Bellway, Redrow and Crest Nicholson ended up 12%, 4.7% and 8.6% respectively.

Royal Bank of Scotland, Lloyds Banking and Barclays ended up 8.4%, 5.3% and 6.2% respectively. Midcap challenger bank Virgin Money UK closed the best performer, up 19%.

International Consolidated Airlines Group closed up 13% after HSBC raised the British Airways parent to Buy from Hold, saying the airline will benefit from a clearer economic outlook following the Tory win.

In addition, stocks that were under pressure heading into the election amid the risk of nationalisation under a Labour government were higher.

Utilities SSE, Severn Trent and British Gas-owner Centrica closed up 8.1%, 9% and 8.8% respectively.

BT closed up 6.5%. Before the election Corbyn had pledged to bring the telecommunications company's Openreach broadband infrastructure arm under state ownership.

Additionally, BT has agreed to sell its Spanish business to Portobello Capital, Spain's El Pais newspaper reported. Citing sources close to the matter, El Pais said the sale of BT Spain will be unveiled in the company days.

Rail and bus operators, another sector threatened with nationalisation by the Labour manifesto, were higher. Stagecoach Group, Go-Ahead Group and FirstGroup closed up 17%, 9% and 3.9% respectively.

The pound was quoted at USD1.3346 at the London equities close, up from USD1.3127 at the close Thursday, easing from the highs reached as the first election results trickled through overnight.

Sterling surged to a 19-month high of USD1.3514 overnight versus the greenback as it became clear the Conservatives would secure a majority.

Forex.com analyst Fawad Razaqzada commented: "Sterling had been rising for weeks leading up to the elections as investors positioned themselves for a Tory majority outcome. Now that their expectations have been met, and the pound soared to the key psychologically-important USD1.35 handle, it makes sense for some to book some profit. However, the path of least resistance remains to the upside and we could see renewed buying once the impact of profit-taking wears off."

The euro stood at USD1.1123 at the European equities close, firm against USD1.1118 a day before.

On the continent, Germany's central bank slashed its 2020 growth forecast for Europe's largest economy in half, but said an export-powered rebound was on the cards in the following years.

The Bundesbank predicted 0.6% expansion next year, half the pace it had reckoned with in its last outlook in June.

Against the yen, the dollar was trading at JPY109.35 at the London close, up from JPY109.10 late Thursday.

Stocks in New York opened at fresh record intraday highs as investors cheered the trade deal progress, however have since eased back in volatile trading.

The DJIA was down 0.1%, the S&P 500 index down 0.2% and the Nasdaq Composite was flat.

US President Donald Trump confirmed Friday he is canceling new tariffs on China, that had been due to kick in at the end of this week, as part of a "phase one" trade deal.

The tariffs "will not be charged because of the fact that we made the deal," he tweeted after Beijing first announced a breakthrough in the US-China trade war.

Trump said that existing tariffs of 25% on USD250 billion of Chinese imports will stay in place pending further negotiations on a second phase deal, along with 7.5% tariffs on another USD120 billion of imports.

The US president said China has agreed to "massive" but unspecified purchases of US farm and manufactured products.

"The phase one US-China trade deal focuses on increased Chinese purchases on agricultural products, in exchange for a lessening of the current tariffs in place. The sceptics will note that China has hugely cut down on their purchases of US agricultural goods, and thus the devil will be in the detail to note whether this is really the boon Trump insists it is. However, for markets this breakthrough is hugely notable as it eases the shackles placed upon a country which remains one of the biggest drivers of economic growth," said IG Group's Josh Mahony.

Brent oil was quoted at USD64.58 a barrel at the London equities close, higher than USD64.38 at the same time the prior day.

Gold was quoted at USD1,471.61 an ounce at the London equities close, up from USD1,466.10 late Thursday.

The economic events calendar on Monday has manufacturing and services PMI readings from France, Germany, eurozone and the UK at 0815 GMT, 0830 GMT, 0900 GMT and 0930 GMT respectively.

The UK corporate calendar on Monday has annual results from defence countermeasures maker Chemring Group and interim results from sportswear retailer Sports Direct International.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

London market Close is available to subscribers as an email newsletter. Contact info@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
27 Mar 2024 20:59

Barclays executive denies discrimination in employee case

LONDON, March 27 (Reuters) - Barclays' former Global Head of Race at Work has defended her decision not to investigate further an employee complaint alleging racial, religious and sex discrimination at the British bank, an employment tribunal in London heard on Wednesday.

Read more
27 Mar 2024 14:42

Bank of England steps up scrutiny of private equity and bank valuations

LONDON, March 27 (Reuters) - The Bank of England said on Wednesday it was taking a deeper look at risks from the opaque private equity sector, and why valuations of Britain's main banks are "subdued" compared with international peers.

Read more
27 Mar 2024 13:44

Libor trader Hayes loses appeal against rate-rigging conviction

LONDON, March 27 (Reuters) - Tom Hayes, the first trader in the world to be jailed for interest rate rigging, lost his appeal against his conviction on Wednesday, a decision he said he would seek to challenge at the UK's Supreme Court.

Read more
27 Mar 2024 13:17

UK dividends calendar - next 7 days

Thursday 28 March 
Alliance Trust PLCdividend payment date
Balanced Commercial Property Trust Ltddividend payment date
Berkeley Group Holdings PLCdividend payment date
BHP Group Ltddividend payment date
BlackRock Energy & Resources Inc Trust PLCex-dividend payment date
BlackRock Sustainable American Income Trust PLCex-dividend payment date
BlackRock Throgmorton Trust PLCdividend payment date
BP PLCdividend payment date
City of London Investment Group PLCdividend payment date
Crown Place VCT PLCdividend payment date
CT UK Capital & Income Investment Trust PLCdividend payment date
Develop North PLCdividend payment date
Diversified Energy Co PLCdividend payment date
Downing Renewables & Infrastructure Trust PLCdividend payment date
Gateley Holdings PLCdividend payment date
Genus PLCdividend payment date
Hargreaves Lansdown PLCdividend payment date
HICL Infrastructure PLCdividend payment date
Idox PLCex-dividend payment date
Imperial Brands PLCdividend payment date
Melrose Industries PLCex-dividend payment date
Mid Wynd International Investment Trust PLCdividend payment date
Moneysupermarket.com Group PLCex-dividend payment date
NextEnergy Solar Fund Ltddividend payment date
North Atlantic Smaller Cos Investment Trust PLCdividend payment date
Personal Group Holdings PLCex-dividend payment date
Premier Miton Global Renewables Trust PLCdividend payment date
Quartix Technologies PLCex-dividend payment date
Renewables Infrastructure Group Ltddividend payment date
Schroder Real Estate Investment Trust Ltddividend payment date
SDCL Energy Efficiency Income Trust PLCdividend payment date
Smith & Nephew PLCex-dividend payment date
Taylor Wimpey PLCex-dividend payment date
Thames Ventures VCT 2 DSO 1 D PLCdividend payment date
Travis Perkins PLCex-dividend payment date
Utilico Emerging Markets Trust PLCdividend payment date
Vaalco Energy Incdividend payment date
Value & Indexed Property Income Trust PLCex-dividend payment date
VH Global Sustainable Energy Opportunities PLCdividend payment date
Volution Group PLCex-dividend payment date
Wynnstay Group PLCex-dividend payment date
Friday 29 March 
Energean PLCdividend payment date
Fiske PLCdividend payment date
Triple Point Social Housing REIT PLCdividend payment date
Monday 1 April 
no events scheduled 
Tuesday 2 April 
Ashmore Group PLCdividend payment date
Braemar PLCdividend payment date
Fair Oaks Income Ltddividend payment date
Fonix Mobile PLCdividend payment date
JPMorgan European Growth & Income PLCdividend payment date
MJ Gleeson PLCdividend payment date
RM Infrastructure Income PLCdividend payment date
Shoe Zone PLCspecial dividend payment date
Temple Bar Investment Trust PLCdividend payment date
Tritax Big Box REIT PLCdividend payment date
Warehouse REIT PLCdividend payment date
Wheaton Precious Metals Corpex-dividend payment date
Wednesday 3 April 
Barclays PLCdividend payment date
Tetragon Financial Group Ltddividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
27 Mar 2024 11:45

UK Libor trader Hayes loses appeal against rate-rigging conviction

LONDON, March 27 (Reuters) - Tom Hayes, the first trader jailed worldwide for interest rate rigging, lost his appeal against his conviction in a London court on Wednesday.

Read more
26 Mar 2024 09:40

LONDON BROKER RATINGS: Dr Martens cut to 'sell'; BofA likes Tullow

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

Read more
21 Mar 2024 11:45

Citi, Barclays set to trim investment banking headcounts

(Sharecast News) - Banking giants Barclays and Citigroup were reportedly gearing up to trim their investment banking workforce, it emerged on Thursday, amid a slowdown in dealmaking activity within the sector.

Read more
14 Mar 2024 09:51

LONDON BROKER RATINGS: Kepler Cheuvreux likes Diageo; BofA lifts Man

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

Read more
12 Mar 2024 08:42

UPDATE: York consortium sells call options over 10 million LSEG shares

London Stock Exchange Group PLC - London-based stock market operator and data provider - JP Morgan Securities PLC on Tuesday confirms that BCP York Holdings LP sold call options over around 10 million voting shares in LSEG, having announced plans to do so after the London market close on Monday. The call options were sold to Barclays Bank PLC, Merrill Lynch International, Citigroup Global Markets Ltd, Goldman Sachs International, JP Morgan Securities PLC and Morgan Stanley & Co International PLC. The call option shares represent around a 1.9% economic and voting interest in LSEG. BCP York is an entity owned by a consortium of certain investment funds affiliated with Blackstone Inc, and including an affiliate of Canada Pension Plan Investment Board, an affiliate of GIC Special Investments Pte Ltd, Thomson Reuters Corp and certain other minority holders. Thomson Reuters didn't participate in the call option transaction.

Read more
11 Mar 2024 19:21

IN BRIEF: Consortium to sell call options over 10 million LSEG shares

London Stock Exchange Group PLC - London-based stock market operator and data provider - JP Morgan Securities PLC says BCP York Holdings LP intends to sell call options over around 10 million voting shares in LSEG. Shares to be sold to Barclays Bank PLC, Merrill Lynch International, Citigroup Global Markets Ltd, Goldman Sachs International, JP Morgan Securities PLC and Morgan Stanley & Co International PLC. The call option shares represent around a 1.9% economic and voting interest in LSEG. BCP York is an entity owned by a consortium of certain investment funds affiliated with Blackstone Inc, and including an affiliate of Canada Pension Plan Investment Board, an affiliate of GIC Special Investments Pte Ltd, Thomson Reuters Corp and certain other minority holders. Thomson Reuters will not participate in the call option transaction.

Read more
1 Mar 2024 15:06

London close: Stocks start the month with positive close

(Sharecast News) - London's financial markets finished in positive territory on Friday, with investor sentiment buoyed by the recent easing of inflation in the United States, as market participants mulled the latest manufacturing data from the UK.

Read more
1 Mar 2024 10:08

IN BRIEF: AB Foods appoints Barclays to run GBP250 million buyback

Associated British Foods PLC - London-based food and ingredient company and owner of fast-fashion retailer Primark - Enters agreement with Barclays Capital Securities Ltd to run the second tranche of AB Food's GBP500 million share buyback programme. The second tranche will be for up to GBP250 million and commence following the completion of the first tranche of the programme, expected before May 1. The first tranche, conducted by UBS Group AG, commenced on November 14. All shares repurchased will be cancelled.

Read more
29 Feb 2024 16:05

London close: Stocks finish positive as US inflation moderates

(Sharecast News) - London's stock markets finished with moderate gains on Thursday, buoyed by a combination of factors including a slowdown in US inflation, robust UK earnings reports, and encouraging mortgage approvals figures.

Read more
27 Feb 2024 16:08

Barclays to sell $1.1bn of card debt to Blackstone - report

(Sharecast News) - Barclays has agreed to sell around $1.1bn of credit-card receivables in the US to Blackstone as it looks to reduce its risk-weighted assets and create additional lending capacity.

Read more
27 Feb 2024 11:33

IN BRIEF: Faruqui of Barclays named new Takeover Panel head

Barclays PLC - London-based bank - Omar Faruqui, "one of Barclays' most experienced advisory practitioners," is named as next director general of the UK's Takeover Panel, effective from May 1. Faruqui is Barclays' co-head of Europe, Middle East & Africa Mergers & Acquisitions; co-head of UK Advisory; and on the management team of EMEA Investment Banking. After taking up the director general post, he will be on a two-year secondment from Barclays.

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.