George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video 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: 183.20
Bid: 183.48
Ask: 183.52
Change: 1.68 (0.93%)
Spread: 0.04 (0.022%)
Open: 183.32
High: 185.68
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

MARKET COMMENT: London Shares Trade Firm After More Positive UK Data

Tue, 03rd Mar 2015 10:45

LONDON (Alliance News) - UK shares are trading flat to firm Tuesday mid-morning in a busy day of corporate reporting, with Barclays results dragged by new provisions for ongoing investigations, while the UK construction activity showed its sharpest expansion in four months.

The FTSE 100 is up 0.2% at 6,951.99, after having reached a new record intraday high of 6,974.26 on Monday, while the FTSE 250 is flat at 17,256.46. The AIM All-Share is trading up 0.1% at 713.61.

Barclays reported an increase in adjusted pretax profit last year, but the group's earnings on a statutory basis were dragged down by a provisions over alleged foreign exchange manipulation, insurance mis-sold to customers in the UK, and a technical change in the valuation of a portfolio of loans held in its non-core unit.

The FTSE 100 bank beat analyst forecasts by reporting a 12% increase in adjusted pretax profit, which amounted to GBP5.50 billion in 2014. This was supported by a 9% fall in adjusted operating expenses to GBP18.07 billion, supported by job cuts and other savings. Analysts had forecast a GBP5.33 billion adjusted pretax profit, according to Barclays.

An additional GBP750 million provision for the ongoing investigations and litigation relating to the alleged foreign exchange rigging, as well as another GBP200 million charge to cover the costs of the mis-selling of payment protection insurance, meant Barclays fell into a statutory pretax loss of GBP1.47 billion in the fourth quarter, which was also hurt by a GBP935 million charge for an accounting revision of an education, social housing, and local authority portfolio that is mainly made up of "long-dated fixed-rate loans with strong credit quality".

Barclays is the second worst performing stock in the FTSE 100, after Travis Perkins, down 2.7%.

Meanwhile, UK construction activity showed in February its sharpest expansion in four months, as the UK Construction Purchasing Managers' Index data came in better-than-expected at 60.1, above consensus estimates of 59.0, reflecting the same figure of a revised reading for January.

"The construction PMI matches the story from manufacturing yesterday that the UK economy is picking up momentum again, as the oodles of stimulus in the pipeline, from cheaper oil to cheaper money, encourage spending," says Berenberg analyst Robert Wood.

In Europe, indices are trading in the same direction, with the CAC 40 in Paris up 0.4% and the DAX 30 in Frankfurt up 0.4%, supported by a better-than-expected German retail sales data.

Germany's retail sales rose at a faster pace in January from the previous month to the highest level in four-and-a-half years, preliminary figures from Destatis showed Tuesday. Retail sales grew a seasonally adjusted 2.9% month-on-month in January, much faster than December's 0.6% increase. Economists had expected sales to rise at a weaker pace of 0.4%. This was the fourth consecutive monthly increase.

On an annual basis, retail sales climbed for the second straight month in January at faster pace of 5.3%, after a 4.8% growth logged in the prior month. Economists had forecast only a 3.0% growth for the month.

"Whilst the DAX keeps hitting new highs with the prospect of more growth on the horizon once ECB QE finally arrives, there are still lingering doubts surrounding the Union," says Spreadex analyst Connor Campbell. "A Sentix poll places the eventuality of a Eurozone break-up at the highest chance since for two years, whilst there are fresh calls of ?Grexit? from certain sectors in Syriza," writes Campbell.

Chief market analyst at CMC Markets Michael Hewson says: "Greece in particular continues to be a cause for concern with contradictory noises coming out of Athens with respect to the government?s willingness to abide by the agreement that appeared to be sealed last week," writes Hewson. "There still appears to be significant pushback from politicians in Athens about abiding by the terms of the current bailout agreement."

The Mediterranean country on Monday said it will not have any problem meeting its financial obligations in March, after reports indicated that Greece might have difficulty repaying its international creditors in the coming months.

Eurozone's producer prices index slid 3.4% year-on-year in January, below the consensus estimate of a decline of 3.0%, and also below a previous reading of a decline of 2.6% in December. On a month-on-month basis, data slid 0.9%, below a drop of 0.7% expected by economists, but above a previous reading of a decrease of 1.0% in December.

Joining Barclays in reporting earnings Tuesday, miner Glencore joined sector peers in slashing its capital expenditure plans, after it reported lower 2014 profits hit by the fall in the oil price and prices for other commodities. The metals and mining giant said its capital expenditure fell to USD8.57 billion in 2014, from a pro-forma USD1132 billion in 2013, and it now expects total industrial capital expenditure for 2015 to be between USD6.5 billion and USD6.8 billion, down from its previous guidance of USD7.9 billion.

Taylor Wimpey also joined sector peers in reporting strong growth in 2014 profits, driven by higher home completions at higher average selling prices, and it was also positive about its outlook saying the so-called "spring selling season" has got off to a better start than it had expected.

The home builder reported a pretax profit of GBP468.8 million for 2014, up from GBP306.2 million in 2013, as revenue rose to GBP2.69 billion, from GBP2.30 billion. It completed 12,454 homes, a 6.5% increase on 2013, while its average selling price rose 11.5% to GBP213,000, from GBP191,000.

British American Tobacco said its Brazilian unit British American Tobacco Prestação de Serviços has filed a request with the Brazilian securities regulator to register a public tender offer to acquire up to all of the 24.7% of Souza Cruz shares which are not currently owned by BAT and to delist the company. The tobacco company said it is offering BRL26.75 a share in cash, minus any dividend paid by Souza Cruz. That price would be a 30% premium to Souza Curz's volume weighted average closing share price over the three months to February 20.

Glencore shares are down 1.6%, Taylor Wimpey's are up 1.4%, and BAT's are up 1.3%.

The Reserve Bank of Australia has kept its interest rates on hold against market expectations. The monetary policy board maintained the cash rate at 2.25% after lowering it by 25 basis points last month, and some economists had expected the bank to lower rates further this month.

In the US, still in the economic calendar Tuesday, Redbook index is at 1350 GMT, and the ISM New York index is at 1445 GMT.

US futures point to a lower opening, with DJIA, S&P 500 and Nasdaq 100 seen down 0.1%.

By Daniel Ruiz; danielruiz@alliancenews.com

Copyright 2015 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.