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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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Barclays Information
Share Price Information for Barclays (BARC)
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Share Price:
214.00
Bid:
214.00
Ask:
214.10
Change:
-2.75 (-1.27%)
Spread:
0.10 (0.047%)
Open:
215.35
High:
215.35
Low:
213.80
Prev. Close:
216.75
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Don't have an account? Click here to register.Thursday newspaper share tips: Steer clear of banking sector
Thu, 11th Feb 2016 11:35
(ShareCast News) - The Telegraph's Questor wasn't so hot on the UK banking sector as it published an in-depth look into it on ThursdayThe column noted that shares in the sector have fallen over 20% so far this year, due to fears about how it would cope in another downturn.It said there is an element of nervousness when it comes to how bank share prices react."Shares in Deutsche Bank, one of Europe's biggest lenders, are behaving like a penny share, dropping 14pc in two days after fears were raised over the lender's capital reserves," Questor said."The stock then erased those losses after chief executive John Cryan claimed the business was "rock solid" and would consider buying back some of its bonds."Questor said that London banks haven't escaped the sell-off, with problems in their European peers sparking concerns about another crisis in the sector.It also said that UK banks haven't completely repaired their balance sheets over the last six years.For that reason, Questor said that equity investors needed to think twice about whether to buy into a sector that was "still paying for its past sins", and advised traders to avoid it. Over in The Times, Tempus had a look through ARM Holdings' latest full-year results which caused the shares to tumble on Wednesday.The FTSE 100 company posted a strong set of full-year results and said it was confident of meeting forecasts for 2016 as demand for its microchip technology continued to grow.Despite the profit warning from smaller rival Imagination Technologies earlier in that same week, ARM's fourth quarter saw a 19% increase in revenue to £269.1m, ahead of consensus forecasts, helping to lift profits 17% to £138.7m.For the full-year, this meant revenue rose 22% to £968.3m, beating consensus forecasts of £962m, with profit before tax up 24% to £511m and earnings per share up 25% to 30.2p.A 25% increase in the final dividend to 5.63p per share meant the total payment was also up 25% to 8.78p, while management also planned to continue its small share buyback programme.Tempus said the results showed that Imagination Technologies's weakness was isolated to that particular company and was not linked to the wider semi-conductor market nor with supplying Apple.It believed that ARM had diversified from the core mobile devices market more successfully compared to its competitor, with 55% of revenues coming from elsewhere."Of that other 45 per cent, a proportion does go to Apple, but this is less than 10 per cent of the total across the group and you would have to take a pretty gloomy view of prospects for the world's most profitable company to see this as too much of a negative."Tempus said it would back ARM Holdings as it believed the company would stay ahead of the semi-conductor market, justifying the high price, and rated it at 'buy long term'.
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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.
Read more4 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
Read more26 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.
Read more26 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.
Read more25 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.
Read more25 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 more23 Jan 2024 12:37
UK Chancellor Hunt meets top UK bank heads over plans to boost City
(Alliance News) - Jeremy Hunt has met the UK's biggest banks as part of efforts among the government to boost interest in the City.
Read more22 Jan 2024 17:14
European shares rise as Wall Street rallies; ECB decision in focus
Kindred jumps on takeover bid from FDJ
*Read more22 Jan 2024 16:59
London stocks climb as homebuilders shine, China weakness drags miners
Barclays up after bullish view from MS
*Read more22 Jan 2024 08:34
LONDON MARKET OPEN: FTSE 100 follows New York into the green
(Alliance News) - Stock prices in London opened higher on Monday, propelled by gains on Wall Street at the end of last week.
Read more19 Jan 2024 09:28
LONDON BROKER RATINGS: BofA cuts Pearson, raises Just Eat Takeaway
(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:
Read more18 Jan 2024 14:33
Britain's finance minister Hunt to quiz bank bosses on UK lending
LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.
Read more18 Jan 2024 09:26
Sainsbury's to gradually withdraw from banking
LONDON, Jan 18 (Reuters) - British supermarket Sainsbury's said on Thursday it would wind down its banking business and instead offer financial products through third parties, as part of a strategy to focus on its core retail operations.
Read more17 Jan 2024 18:39
Bank CEOs, huddled in private in Davos, worry about competition, economy - sources
DAVOS, Jan 17 (Reuters) - Bank CEOs meeting in private at the World Economic Forum on Wednesday aired concerns about the competitive risks from fintech firms and private lenders, and complained about onerous regulations, a source familiar with the matter said.
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