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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
Share Price is delayed by 15 minutes
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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 open: Markets celebrate euro agreements

Thu, 27th Oct 2011 08:30

Just one stock was in the red on the FTSE 100 in the opening minutes of Thursday, as markets turned bullish on the back of a three-prongued deal in the Eurozone last night. The blue chip index in London jumped 1.85% early on, joining all major benchmarks across the continent this morning, with indices in France, Italy and Germany soaring over 3%.EUROZONE AGREEMENT BOOSTS THE MARKETSWorking into the early hours of the morning, Eurozone officials reached agreements on a host of issues. "At first glance details seem to be lacking in some regards, but there do seem to be firm agreements in place on many key issues; that may well be what matters most to markets (credible structural reforms aside) given that they can still count on the European Central Bank for an effective 'backstop' for now," according to analysts at Digital Look.The Eurozone and the Institute for International Finance (IIF) have agreed on a voluntary 'haircut' on Greek debt of 50%, which is expected to allow the country to reduce its stock of debt to 120% of GDP by the year 2020 from 160% now. As well, the Eurozone will offer €30bn in credit enhancements to the private sector in exchange.An agreement has also been reached on increasing the size of the European Financial Stability Fund. The amount remaining, following aid payments so far to periphery nations, and which is approximately €290bn, will be leveraged by around 4-5 times, producing a headline figure of around €1tn.A June 30 2012 deadline has been set for lenders to raise their levels of 'core capital' to 9% once sovereign debt holdings have been written down, after the European Banking Authority identified a capital shortfall of €106bn after re-valuing market-rate sovereign debt. Banks also have until Christmas day this year to submit recapitalisation plans to national supervisors.Seperately, leaders expressed to Italian Prime Minister Silvio Berlusconi the urgent need to set an "ambitious timetable" to boost economic growth and cut debt. In exchange Berlusconi vowed to raise €5bn annually from asset sales, increase the retirement age and relax labour laws. BANKS, MINERS CELEBRATE EU DEALSThe banks and the miners soared in the opening minutes as the Eurozone agreements attempt to combat the ongoing debt crisis in Europe, thus raising optimism for the global economy outlook.UK lenders Barclays, Royal Bank of Scotland and Lloyds and mining peers Xstrata, Rio Tinto and Kazakhmys, all saw their share prices jump over 5%. Investors seemed to take no notice that Kazakhmys this morning reported falling output and grades across all its metal groups in the third quarter.Tullow Oil was the only stock registering a loss this morning. Oil peer Royal Dutch Shell reported that it had doubled its earnings in the third quarter. However, the shares rose by just 1%, underperforming the relative FTSE 100, after reporting that output was slightly lower.Pharmaceuticals giant AstraZeneca's rise was also rather subdued, at just 0.5%, after it reported that revenues fell 2% at constant currency in the third quarter.Laird rose strongly on the FTSE 250 after announcing that revenue from continuing operations rose by 18% in the third quarter, as it attempts to shake off its underperforming businesses.BCFTSE 100 - RisersBarclays (BARC) 191.75p +7.36%Xstrata (XTA) 1,064.50p +6.13%Rio Tinto (RIO) 3,470.00p +5.15%Royal Bank of Scotland Group (RBS) 26.05p +5.13%Lloyds Banking Group (LLOY) 36.00p +5.11%Kazakhmys (KAZ) 975.50p +5.01%Antofagasta (ANTO) 1,233.00p +4.85%ITV (ITV) 64.80p +4.52%Vedanta Resources (VED) 1,312.00p +4.38%Ashmore Group (ASHM) 339.40p +4.30%FTSE 100 - FallersTullow Oil (TLW) 1,425.00p -0.14%FTSE 250 - RisersLaird (LRD) 148.00p +6.47%Ferrexpo (FXPO) 328.00p +6.25%Spectris (SXS) 1,283.00p +5.25%Talvivaara Mining Company (TALV) 236.10p +4.70%Home Retail Group (HOME) 104.80p +4.49%DS Smith (SMDS) 214.00p +4.39%Dixons Retail (DXNS) 12.67p +4.37%Fidelity European Values (FEV) 1,056.00p +4.35%Thomas Cook Group (TCG) 57.10p +4.20%Henderson Group (HGG) 123.90p +3.94%FTSE 250 - FallersCroda International (CRDA) 1,848.00p -1.75%Premier Foods (PFD) 3.98p -1.29%Gem Diamonds Ltd. (DI) (GEMD) 216.10p -1.28%Hansteen Holdings (HSTN) 76.25p -1.10%SDL (SDL) 642.00p -0.47%Dairy Crest Group (DCG) 347.10p -0.40%UK Commercial Property Trust (UKCM) 77.70p -0.38%De La Rue (DLAR) 840.00p -0.30%Salamander Energy (SMDR) 189.50p -0.21%Rathbone Brothers (RAT) 1,078.00p -0.19%
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