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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: 204.00
Bid: 203.10
Ask: 203.30
Change: 12.86 (6.73%)
Spread: 0.20 (0.098%)
Open: 195.96
High: 206.70
Low: 194.00
Prev. Close: 191.14
BARC Live PriceLast checked at -

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London midday: Financials provide a drag, Chinese data disappoints

Mon, 12th Mar 2012 12:10

- Chinese deficit figures disappoint.- Eurogroup meet in Brussels to sign off on Greek bailout.- Former RBS directors sued.Some disappointing economic data from China took the shine off a better-than-expected US jobs report on Friday, as the Footsie opened the week on a dull note with stocks slightly lower by midday.Chinese economic indicators out over the weekend seem have dampened sentiment on the markets today which will undoubtedly lead to some increasing their bets on the introduction of new policy easing measures in the Asian giant. Deficit figures revealed a shortfall of $31.5bn in February, the largest in 22 years, with growth in imports coming in at 39.6% while exports only gained by 18.4% from a year earlier. This compares with a surplus of $27.3bn in January, meaning that the nation was in a net deficit in the first two months.Meanwhile in Europe, Eurozone finance ministers are to meet in Brussels later today to finally sign off on the €130bn bailout for Greece. Belgian newspaper De Morgen cited German Finance Minister Wolfgang Schaeuble as saying over the weekend: "nobody can now exclude that Greece at a single moment may need a third bailout." Nevertheless, he said that he has confidence that the measures being taken will "bring the country on the road to recovery."Eric Parnell from Gerring Wealth Management suggests that we should keep our guard up against the Greek situation getting even worse. "The market reaction may not be immediate. Instead, it may take a few weeks before the effects of a Greek default begin to bubble their way to the surface and impact stock prices.""Thus, keeping a close eye on events as they unfold in the aftermath will be prudent," Parnell warns. RBS FALLS AS EX-DIRECTORS HIT WITH LAWSUITBanking giant Royal Bank of Scotland was the worst performer of the day, weighed down by reports that former Chief Executive Fred Goodwin and ex-Chairman Tom McKillop have been sued by a group of investors in relation to the time prior to the bank's government bailout. Sector peers Barclays and Lloyds were also out of favour.Man Group was a heavy faller after HBSC downgraded the stock from overweight to neutral, citing "higher distribution costs and taxes". The target price was also cut, from 150p to 140p.Commodities producer and marketer Glencore International is rumoured to considering a £3.5bn bid for Canadian grain firm Viterra. The Sunday Telegrpah said that the firm is attempting to bolster its agricultural business in North America. Shares were unchanged.Leading the risers was cruise operator Carnival after being upgraded by Exane BNP Paribas from underperform to outperform. Engineering and project management firm AMEC was also doing well after Societe Generale raised its rating from hold to buy.Shares in GKN were off the mark on rumours that the group is considering a £800m takeover of Swedish aerospace group Volvo Aero. Investec said that the deal would be a "good fit" and would help GKN better balance itself away from Automotive and into a higher margin business.Meanwhile, house builders gave a muted reaction to the government's new mortgage scheme. NewBuy will see house builders pay 3.5% of the price of a house into an account held by the lending bank. The government will also guarantee 5.5% of the purchase price. Stewart Baseley, the Executive Chairman of the House Builders' Federation welcomed the news, saying that "the scheme will [...] provide a vital kick-start for house builders large and small who will be able to build the homes and create the jobs that the country desperately needs." Household goods and home construction stocks were down an average 0.12% by midday.FTSE 250: MISYS FALLS AFTER TEMENOS DROPS OUT The merger discussions between financial software developers Misys and Temenos Group have been terminated, but Misys remains in talks with its other suitors regarding a potential takeover. Swiss firm Temenos, long thought of as a natural partner of Misys, has been in discussion with its UK peer since the beginning of February, but the two parties have evidently been unable to agree on a price.Egypt-focused gold miner Centamin was a high riser on the FTSE 250 after having resumed work at its flagship Sukari Gold Mine following last week's labour unrest which brought operations to a standstill. Elsewhere, Game Group was a big mover, dropping nearly 80% early on after the future of the struggling computer video games retailer was thrown into doubt. The company confirmed that it has not been able to source new products from a number of suppliers while its talks with its bankers drag on. Shares were down over 50% by midday.BCFTSE 100 - RisersCarnival (CCL) 1,968.00p +2.55%Morrison (Wm) Supermarkets (MRW) 300.80p +2.04%Kingfisher (KGF) 285.60p +1.20%Prudential (PRU) 729.00p +1.18%Kazakhmys (KAZ) 968.50p +1.10%Hammerson (HMSO) 422.10p +1.08%Amec (AMEC) 1,160.00p +0.96%Vodafone Group (VOD) 170.15p +0.89%Tate & Lyle (TATE) 710.50p +0.85%Land Securities Group (LAND) 722.50p +0.84%FTSE 100 - FallersVedanta Resources (VED) 1,376.00p -3.17%Royal Bank of Scotland Group (RBS) 25.55p -2.48%Rolls-Royce Holdings (RR.) 816.00p -2.28%Barclays (BARC) 235.85p -2.01%Petrofac Ltd. (PFC) 1,681.00p -1.75%Man Group (EMG) 137.60p -1.57%Old Mutual (OML) 162.30p -1.40%Lloyds Banking Group (LLOY) 33.88p -1.35%International Power (IPR) 361.60p -1.20%G4S (GFS) 288.60p -1.20%FTSE 250 - RisersComputacenter (CCC) 390.00p +5.86%Exillon Energy (EXI) 206.90p +3.71%Centamin (DI) (CEY) 84.25p +3.44%CSR (CSR) 254.60p +3.41%Bumi (BUMI) 775.00p +3.40%Supergroup (SGP) 614.00p +3.37%Stobart Group Ltd. (STOB) 133.00p +3.18%Cobham (COB) 216.20p +2.71%Carillion (CLLN) 312.10p +2.29%Homeserve (HSV) 225.40p +2.27%FTSE 250 - FallersInmarsat (ISAT) 477.00p -2.49%Misys (MSY) 332.70p -2.43%Michael Page International (MPI) 478.30p -2.39%Booker Group (BOK) 76.00p -2.06%Ophir Energy (OPHR) 424.30p -2.05%Heritage Oil (HOIL) 164.60p -2.02%Dairy Crest Group (DCG) 340.10p -1.99%Brewin Dolphin Holdings (BRW) 160.40p -1.96%Hiscox Ltd. (HSX) 408.10p -1.85%Premier Farnell (PFL) 212.20p -1.85%
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