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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: 202.35
Bid: 202.15
Ask: 202.25
Change: 1.35 (0.67%)
Spread: 0.10 (0.049%)
Open: 202.50
High: 203.40
Low: 199.58
Prev. Close: 201.00
BARC Live PriceLast checked at -

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LONDON MARKET CLOSE: Housebuilders Push FTSE 100 To Close Higher

Tue, 06th Oct 2020 17:03

(Alliance News) - Stocks in London ended mixed on Tuesday, with housebuilders able to keep the blue-chip index in the green, thanks to positive UK construction data.

The large cap index closed up 7.00 points, or 0.1%, at 5,949.94. The FTSE 250 ended up 1.2% at 17,797.44, and the AIM All-Share closed down 0.1% at 972.68.

The Cboe UK 100 ended down 0.1% at 591.45, the Cboe UK 250 closed up 1.5% at 15,120.34, and the Cboe Small Companies ended up 0.6% at 9,427.59.

In European equities on Tuesday, the CAC 40 in Paris and the DAX 30 in Frankfurt ended up 0.5% and 0.6% higher, respectively.

"The mood in Europe is now a little bullish. This morning, the major indices were in the red as dealers used the cautious language in relation to the US president's release from the medical centre as an excuse to book profits. The move higher in US index futures in the middle of the European trading session lifted the sentiment on this side of the Atlantic," noted CMC Markets UK analyst David Madden.

US President Donald Trump on Monday returned to the White House after a three-day stay at a hospital where he was treated for the coronavirus, saying on Twitter he was "feeling really good."

Trump, wearing a mask, was taken by helicopter from the Walter Reed medical centre outside Washington.

Earlier, he had pumped his fist and given a thumbs-up as he emerged from the hospital's gilded doors, without speaking to reporters.

"Feeling really good! Don't be afraid of Covid. Don't let it dominate your life...I feel better than I did 20 years ago!" the president tweeted as he announced he was being discharged.

Stocks in New York were mixed at the London equities close, with the Dow Jones up 0.3%, the S&P 500 index flat, and the Nasdaq Composite down 0.4%.

The US recovery from the pandemic downturn will be "stronger and faster" with more government aid to protect against the potential for accelerating job losses, Federal Reserve Chair Jerome Powell said.

"Even if policy actions ultimately prove to be greater than needed, they will not go to waste," Powell said in an address to an economics conference.

There is a greater risk of not doing enough to support the economy, he said.

"Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses."

Powell, who has long said more economic support is likely needed, warned that if economic improvements slow that "could trigger typical recessionary dynamics, as weakness feeds on weakness."

The pound was quoted at USD1.2956 at the London equities close Tuesday compared to USD1.2968 at the close on Monday.

The euro stood at USD1.1787 at the European equities close Tuesday, unchanged when compared to the same time on Monday. Against the yen, the dollar was trading at JPY105.60 compared to JPY105.67 late Monday.

The UK construction sector continued to expand in September to post a solid end to the third quarter, figures from IHS Markit showed on Tuesday.

The IHS Markit/CIPS construction total activity index registered 56.8 in September, up from 54.6 in August. Any reading over 50.0 indicates expansion, and one below contraction.

The strongest performing category was home building, while work on commercial projects also increased strongly. Meanwhile, civil engineering activity fell for the second month running and at the sharpest rate since May.

September's expansion was driven by an improvement in demand. New orders rose for the fourth time in as many months as firms continued to note a release of pent-up demand.

Confidence towards the year ahead was the strongest since February, supported by expectations of a sustained rise in new work.

Housebuilders were on the front foot after a sharp rise in the construction PMI reading. British Land gained 4.7%, Barratt Developments closed up 2.7%, Persimmon closed up 2.6%, Taylor Wimpey gained 2.9% and Berkeley ended the day 0.9% higher.

"The housebuilders continue to enjoy a week of upside, with yesterday's plans to raise home ownership being accompanied by a strong construction PMI reading this morning," said Joshua Mahony, senior market analyst at IG.

Elsewhere on the LSE, Barclays closed up 4.8% after Redburn lifted the bank to Buy from Sell.

In contrast, Rentokil Initial lost 3.7% after Goldman cut the commercial pest control firm to Neutral from Buy.

Among the mid-caps, Ferrexpo closed down 3.2% after the Swiss-headquartered iron ore company, with assets in Ukraine, reported a drop in third quarter production due to a planned pelletiser maintenance and said its appeal over Ferrexpo Poltava Mining had been dismissed.

Ferrexpo noted its June announcement that a district court in Kyiv had placed a restriction which covered 50.3% of shares in Ferrexpo Poltava Mining held by Ferrexpo AG Switzerland. Ferrexpo AG Switzerland is Ferrexpo Poltava Mining's sole shareholder. The Kyiv Court of Appeal has dismissed Ferrexpo's appeal against the court order, meaning the restriction remains in place.

Separately, Ferrexpo reported its production for the third quarter of 2020, which ended September 30, of 2.5 million tonnes, down from 2.9 million in the second quarter. This drop was attributed to "reduced volume due to planned pelletiser maintenance in early September."

Victrex closed 1.3% lower. For the fourth quarter to the end of September, the polymers manufacturer's sales volumes was down 26% to 695 tonnes from 940 tonnes the year before, leading to revenue declining by 27% to GBP55.7 million from GBP76.2 million, in line with expectations.

For the year as a whole, Victrex's sales volumes was down 7% at 3,492 tonnes from 3,751 tonnes. Revenue was down 10% at GBP266 million from GBP294 million.

Victrex noted that although its top-line performance for the year was ahead of expectations, its high-fixed cost base and absorption of fixed costs due to lower output will impact margins.

Watches of Switzerland finished the day as the best performer among the FTSE 250s, up 26%, after the luxury watch retailer raised its full-year guidance.

Revenue for the first 10 weeks of the second quarter ending October 25 was stronger than expected, rising 18% in reported terms to GBP202.7 million from the year before. This represented a 20% revenue rise at constant currency.

Strong domestic UK sales offset lower tourist and airport business, and regional stores were outperforming London stores where footfall was still weak. US momentum accelerated, with second quarter US sales to date at GBP57.7 million, up 35% reported and 43% at constant currency.

Outlook-wise, the company upgraded its financial 2021 revenue guidance to between GBP880.0 million and GBP910.0 million from previously guided range of GBP840.0 million to GBP860.0 million.

It also upgraded its forecast for earnings before interest, tax, depreciation, and amortisation margin, now expecting a 1.0% to 1.5% rise year-on-year. It had previously been expecting this to be flat.

In Wednesday's corporate calendar, there are half-year results from grocer Tesco and used car dealer Vertu Motors.

Brent oil was quoted at USD42.58 a barrel at the London equities close Tuesday, up from USD41.66 late Monday.

Elsewhere in the commodity space, gold was quoted at USD1,909.10 an ounce at the London equities close Tuesday, lower against USD1,914.70 at the close on Monday.

In the economic calendar on Wednesday, there is UK Halifax house price index at 0830 BST followed by US FOMC meeting minutes at 1900 BST.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
13 Feb 2024 14:34

UK earnings, trading statements calendar - next 7 days

Wednesday 14 February 
Coca-Cola HBC AGFull Year Results
Dunelm PLCHalf Year Results
Pan African Resources PLCHalf Year Results
Severn Trent PLCTrading Statement
United Utilities Group PLCTrading Statement
Thursday 15 February 
Benchmark Holdings PLCQ1 Results
Centrica PLCFull Year Results
MJ Gleeson PLCHalf Year Results
Relx PLCFull Year Results
South32 LtdHalf Year Results
Friday 16 February 
NatWest Group PLCFull Year Results
Segro PLCFull Year Results
TBC Bank Group PLCFull Year Results
Monday 19 February 
Bank of Cyprus Holdings PLCFull Year Results
MoneySupermarket.com PLCFull Year Results
Transense Technologies PLCHalf Year Results
Wilmington PLCHalf Year Results
Tuesday 20 February 
Barclays PLCFull Year Results
BHP Group LtdHalf Year Results
Coca-Cola Europacific Partners PLCFull Year Results
Gran Tierra Energy IncFull Year Results
InterContinental Hotels Group PLCFull Year Results
Petra Diamonds LtdHalf Year Results
Springfield Properties PLCHalf Year Results
  
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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9 Feb 2024 17:02

LONDON MARKET CLOSE: FTSE 100 falls at end of tepid week

(Alliance News) - Stock prices in London closed lower on Friday, with the FTSE 100's losing streak extending to three days, as sentiment in Europe remains tetchy despite a largely stellar start to the day in New York.

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9 Feb 2024 15:15

London close: Stocks turn sour in afternoon trading

(Sharecast News) - London's markets turned lower on Friday afternoon, concluding a volatile week on a negative note.

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9 Feb 2024 12:46

Barclays pledges to stop directly financing new oil and gas projects

(Alliance News) - Barclays PLC has promised to stop directly financing energy clients' new oil and gas projects as part of updates to its climate change strategy.

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9 Feb 2024 11:44

LONDON MARKET MIDDAY: European markets quiet heading into afternoon

(Alliance News) - European stock markets were quiet heading into Friday afternoon, as investors eye the annual US consumer price index benchmarks revisions.

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9 Feb 2024 08:49

LONDON MARKET OPEN: Tesco bank sold to Barclays for GBP600 million

(Alliance News) - Stock prices in London lacked direction on Friday, after Barclays announced plans to buy the retail banking business of Tesco Bank.

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9 Feb 2024 08:11

Barclays adds scale, income and profits with Tesco Bank deal, says Shore Capital

(Sharecast News) - Shore Capital has reiterated a 'buy' recommendation on Barclays after its deal to takeover Tesco Personal Finance for £600m, saying that the stock should double from current levels.

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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.

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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.

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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.

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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

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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.

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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.

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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.

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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

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