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Share Price Information for Barclays (BARC)

London Stock Exchange
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Share Price: 202.00
Bid: 202.40
Ask: 202.50
Change: -3.15 (-1.54%)
Spread: 0.10 (0.049%)
Open: 205.75
High: 206.10
Low: 197.68
Prev. Close: 205.15
BARC Live PriceLast checked at -

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London midday: Stocks edge higher as BoE ups QE

Thu, 05th Jul 2012 11:35

- BoE increases QE, maintains Bank Rate- ECB expected to cut refi rate to 0.75 per cent- GKN jumps higher after 633m-pound Volvo Aero purchaseThe Footsie was registering moderate gains in morning trade on Thursday as investors hoped that the Bank of England would inject more stimulus into the subdued UK economy; the central bank did just that with the Monetary Policy Committee (MPC) announcing additional quantitative easing at midday. The Footsie, trading around the 5,700 mark this morning, has not closed above that level since May 3rd.As expected, the MPC maintained the Bank Rate at 0.5% and decided to ramp up its asset purchase programme by £50bn to £375bn. "Against the background of continuing tight credit conditions and fiscal consolidation, the increased drag from the heightened tensions within the euro area meant that, without additional monetary stimulus, it was more likely than not that inflation would undershoot the target in the medium term. The Committee therefore voted to increase the size of its programme of asset purchases," the MPC said.Meanwhile, the European Central Bank (ECB) is widely expected to cut the refinancing rate from the current level of 1.0% this afternoon. Gerhard Schwarz, head of Equity Strategy at Baader Bank, said: "The most likely outcome in our view is a 25 basis point cut. A bigger cut would increase pressure on the ECB to move towards 'unconventional' stimulus - something the ECB has been very reluctant to do recently. So with the refi rate standing at 0.75% the ECB could still argue to have some firepower left." FTSE 100: GKN surges after Volvo Aero acquisitionShares in GKN rocketed after the announcement of its acquisition of Volvo Aero for £633m. To help fund the deal GKN aims to place £140m of new shares with institutional investors, with the rest of the money coming from new debt facilities. Investec reiterated its 'buy' recommendation for the engineering group this morning, saying that 'The acquisition of Volvo Aerospace has been announced on terms that are better than anticipated in the media.' The broker said that while the cost equity raise are lower than expected, the expected returns are higher.The decision by Xstrata to postpone the vote on its controversial proposed merger with Glencore International gave a boost to both stocks. The company said that the delay is due to the proposed changes to the management retention awards announced last month. Shareholders were due to vote on the the Xstrata-Glencore merger on July 4th.Utilitiy giant Centrica fell after Goldman Sachs downgraded the stock to 'neutral' and cut its target price from 441p to 422p. Insurance group Aviva rose after new Executive Chairman John McFarlane outlined details of its new strategic direction which, not for the first time, will result in changes at the senior management level. The new strategy has three main objectives: narrower focus; building financial strength; and improving financial performance.Heading the other way was the under-pressure banking sector which was rocked by the LIBOR and mis-selling scandals last week. Barclays, the lender at the centre of the interbank lending rate manipulation claims, was trading slightly lower, while sector peers Royal Bank of Scotland, Lloyds and Standard Chartered were also out of favour.FTSE 250: Dunlem sees strong Q4 sales Homewares retailer Dunelm advanced after saying that total revenue increased 21.2% in the fourth quarter of the group's fiscal year, boosted by the unusually wet weather. However, the group cautioned that it expects consumer spending to remain under pressure. Recruitment groups Hays and Michael Page were being weighed down by a gloomy trading update from AIM-listed sector peer Robert Walters. The group said that a banking sector slow-down in the Asia Pacific region put a dent in net fee income in the second quarter.FTSE 100 - RisersGKN (GKN) 210.20p +12.65%Xstrata (XTA) 855.00p +4.17%Glencore International (GLEN) 320.00p +2.55%Aviva (AV.) 287.50p +2.17%Rio Tinto (RIO) 3,199.50p +1.81%Experian (EXPN) 940.50p +1.57%Marks & Spencer Group (MKS) 334.10p +1.49%Kazakhmys (KAZ) 762.00p +1.46%BP (BP.) 436.50p +1.38%Wolseley (WOS) 2,464.00p +1.32%FTSE 100 - FallersRoyal Bank of Scotland Group (RBS) 210.80p -1.72%Kingfisher (KGF) 277.30p -1.49%ICAP (IAP) 326.40p -1.39%Evraz (EVR) 263.00p -1.31%Whitbread (WTB) 2,064.00p -1.15%United Utilities Group (UU.) 666.00p -1.11%Centrica (CNA) 314.30p -1.07%British Land Co (BLND) 509.50p -0.97%Pennon Group (PNN) 754.00p -0.92%Lloyds Banking Group (LLOY) 31.38p -0.90%FTSE 250 - RisersGem Diamonds Ltd. (DI) (GEMD) 222.80p +5.39%Chemring Group (CHG) 275.60p +3.11%Dunelm Group (DNLM) 525.50p +2.64%Ferrexpo (FXPO) 228.60p +2.42%Cape (CIU) 274.80p +1.82%New World Resources A Shares (NWR) 339.80p +1.77%Persimmon (PSN) 637.00p +1.76%Domino Printing Sciences (DNO) 561.00p +1.63%Invensys (ISYS) 238.80p +1.62%SIG (SHI) 101.90p +1.60%FTSE 250 - FallersMichael Page International (MPI) 365.00p -3.92%Man Group (EMG) 65.60p -2.89%FirstGroup (FGP) 214.30p -2.68%WH Smith (SMWH) 540.50p -2.35%TalkTalk Telecom Group (TALK) 185.60p -2.32%Home Retail Group (HOME) 84.05p -2.32%Hays (HAS) 74.65p -2.29%Yule Catto & Co (YULC) 142.00p -2.20%Perform Group (PER) 395.30p -2.06%Bodycote (BOY) 344.50p -1.99%BC
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(Sharecast News) - More claims against banks and individuals operating in the City linked to the so-called Cum-Ex case are likely. The tax fraud scandal - Europe's largest ever - is estimated to have cost German taxpayers alone almost £10bn. Among the lenders being investigated are Barclays, Bank of America Merrill Lynch, Morgan Stanley, BNP and Nomura, together with law firms and auditors. Last week, the Supreme Court ruled that Danish authorities could pursue an alleged £1.4bn Cum-Ex fraud in London. The decision may open the floodgates to to claims from regulators in other European countries. - Financial Mail on Sunday

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27 Oct 2023 17:08

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27 Oct 2023 12:06

LONDON MARKET MIDDAY: Oil majors lift FTSE 100 but banks fall

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27 Oct 2023 09:12

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25 Oct 2023 09:38

LONDON BROKER RATINGS: Barclays cuts Mondi; Jefferies ups AB Dynamics

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25 Oct 2023 09:10

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25 Oct 2023 08:39

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24 Oct 2023 17:08

LONDON MARKET CLOSE: FTSE 100 shakes off midday losses after US data

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24 Oct 2023 12:00

LONDON MARKET MIDDAY: Stocks in red amid cooling UK economy

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24 Oct 2023 09:22

LONDON MARKET OPEN: Banks weigh on FTSE 100 after Barclays disappoints

(Alliance News) - Stock prices in London opened lower on Tuesday, amid some disappointing UK company updates and the continuing uncertainty caused by the conflict in the Middle East

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24 Oct 2023 09:11

TOP NEWS: Barclays cuts UK outlook, third-quarter revenue falls short

(Alliance News) - Barclays PLC's third-quarter revenue fell short of estimates, though its profit topped consensus, despite a rise in provisions, numbers on Tuesday showed.

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24 Oct 2023 07:55

LONDON BRIEFING: Barclays quarterly income rises, but profit falls

(Alliance News) - Stocks in London are expected to edge into the red on Tuesday, as investors look ahead to the latest series of flash PMI prints from major economies.

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24 Oct 2023 07:28

Barclays beats Q3 profit forecasts but cuts NIM guidance

(Sharecast News) - Third-quarter headline profits at Barclays may have comfortably beaten analysts' forecasts, but the bank disappointed the market on Tuesday with a cut to its guidance for UK net interest margin (NIM), a key measure of profitability in retail banking.

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18 Oct 2023 10:44

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