Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. 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: 185.08
Bid: 185.04
Ask: 185.10
Change: 3.56 (1.96%)
Spread: 0.06 (0.032%)
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

UK TOP NEWS SUMMARY: Barclays Profit Hit By GBP1.4 Billion PPI Charge

Fri, 25th Oct 2019 11:10

(Alliance News) - The following is a summary of top news stories Friday.

----------

COMPANIES

----------

Barclays reported a sharp drop in quarterly profit as the lender's operating expenses rose steeply, though Chief Executive Jes Staley described it as a "resilient" period for the bank. In the three months to September 30, the lender recorded a pretax profit of GBP246 million, 83% lower than the GBP1.46 billion posted a year earlier. Excluding litigation and conduct charges, third-quarter pretax profit rose 18% to GBP1.81 billion. The sharp quarterly drop was attributed to a GBP1.4 billion payment protection insurance provision. Operating expenses rose 42% to GBP4.86 billion from GBP3.43 billion, with litigation & conduct charges jumping to GBP1.57 billion from GBP105 million the year before. In September, the lender warned of an "exceptional" level of PPI claims in the days leading up to the Financial Conduct Authority's deadline of August 29. To September 30, Barclays has recognised GBP11 billion of cumulative provisions.

----------

WPP maintained its annual guidance for 2019 following an improved performance in the third quarter. The advertising and public relations firm said third quarter reported revenue from continuing operations, excluding Kantar, was up 5.2% at GBP3.29 billion. In mid-July, WPP agreed to sell 60% of Kantar to investment firm Bain Capital Private Equity, which valued all of Kantar at USD4.0 billion. The company also said that it intends to reorganise to separate the Kantar business from the wider WPP group, with completion expected in early 2020. Revenue in constant currency was up 1.9%. WPP explained that the difference to the reported number reflecting the weakening of the pound against a number of currencies, particularly US dollar. Looking ahead, WPP said its financial guidance remains unchanged, both including and excluding Kantar. WPP expects to deliver like-for-like revenue less pass-through costs down between 1.5% and 2.0% year-on-year.

----------

Glencore reported a dip in quarterly copper output, but cobalt production staged a rebound. For the three months to September, copper output fell 4% to 1.0 million tonnes on the year prior, but cobalt output climbed 21% to 34,400 tonnes. Glencore said the fall in copper production was due to a reshaping of operations at the Mutanda mine in the Democratic Republic of the Congo, a smelter shut-down for refurbishment at Mopani in Zambia, and the disposal and depleted of South American assets. Cobalt production improved, Glencore said, following a ramp-up of operations at Katanga in the DRC. Elsewhere, zinc production rose 3% to 809,200 tonnes after a contribution from Mount Isa and improved production at McArthur River, both in Australia.

----------

Hastings Group said its gross written premiums in the first nine months of 2019 are up on the prior year but warned of an unsure outlook. In the nine months to September 30, the car and home insurer recorded GBP753.1 million in gross written premiums, up 2.0% on the year before. "The increase in premium prices have been offset by a change in the risk mix of business that is aimed at lower risk segments and a reduction in younger drivers," Hastings said. As a result, the insurer said it has continued to prioritise pricing discipline in the third quarter. Hastings said it applied rates in line with first half claims inflation but was ahead of the market.

----------

Synthomer issued a profit warning due to a challenging backdrop for the chemicals industry, depressed European industrial activity and increased political and economic uncertainties. The Essex, England-based chemicals company said if current weakness continues through fourth quarter then 2019 underlying pretax profit will be 10% below the GBP135.1 million recorded in 2018 and 10% off the current GBP135.3 million consensus estimate. Synthomer also expects slower trading environment to continue through the remainder of 2019 and into 2020, particularly in Europe.

----------

Amazon.com lagged behind market expectations for third-quarter earnings, after the e-tailer introduced free, one-day Prime delivery, prompting its shares to drop. Amazon, which has expanded beyond online retailing to video streaming and cloud computing, posted diluted earnings per share of USD4.23 for the three months ended September 30, down 8.4% versus the USD4.62 per share predicted by analysts. This figure also was 26% lower than the USD5.75 EPS posted for the same quarter of 2018. Amazon shares lost 6.7% in New York in after-hours trading Thursday but have recovered some of that in pre-market trading Friday, now down 5.5%. The company reported its third-quarter results after the US market close Thursday.

----------

MARKETS

----------

London shares were lower amid uncertainties over the US-China trade war following negative comments about China by US Vice President Mike Pence. The pound was firm against the dollar as investors await a decision from European leaders on whether to grant a Brexit extension. Wall Street was pointed to a mixed open.

----------

FTSE 100: down 0.3% at 7,303.32

FTSE 250: down 0.5% at 20,050.66

AIM ALL-SHARE: down 0.1% at 891.76

GBP: firm at USD1.2840 (USD1.2828)

EUR: flat at USD1.1118 (USD1.1100)

GOLD: up at USD1,504.55 per ounce (USD1,501.50)

OIL (Brent): flat at USD61.64 a barrel (USD61.65)

(changes since previous London equities close)

----------

ECONOMICS AND GENERAL

----------

EU leaders are expected to announce a decision over a Brexit delay, in a move that could have a bearing on whether Boris Johnson gets his pre-Christmas general election. The prime minister challenged MPs to back his call for a December 12 vote in return for more time to scrutinise his Brexit deal as he tried to break the deadlock. Johnson will need Labour votes if he is to win the attempt on Monday, with a "super majority" of two-thirds of MPs required to get an election under the Fixed-Term Parliaments Act. Jeremy Corbyn said his decision would come after inspecting the terms of any extension to Article 50 granted by Brussels, which he was expecting to come on Friday. The PM said the outcome of the announcement was "likely" to be the delay until January 31 which he was compelled to request by Parliament.

----------

Confidence in the UK jobs market has fallen to its lowest level in five years, a new study suggests. Research by jobs site Monster and the Centre for Economic and Business Research indicated that over a third of workers do not feel confident about their current or future employment prospects because of the political landscape. The report said growth in the number of job vacancies had started to slow slightly over the past year. The "volatile" state of politics was having a substantial impact on confidence in the jobs market, said the report.

----------

US Vice President Mike Pence criticised China for failing to live up to promises made on reining in intellectual property theft as well as raised other common US complaints about human rights violations in the country. China's government continues to "aid and abet" the theft of intellectual property, said Pence, speaking in Washington. The Chinese Communist Party also continues to resist change, especially in its treatment of religious minorities and its stance on pro-democracy protests in Hong Kong, in ways that harm the potential for building a foundation for better ties with the US, he said. But Pence said that despite China's "aggressive and destabilising" behaviour in the last year, the US does not seek confrontation.

----------

Japan's new trade minister has submitted his resignation after being accused of violating election law by offering voters money and gifts, Prime Minister Shinzo Abe said. Isshu Sugawara had been in the hot seat after a magazine reported he was suspected of paying 20,000 yen, about USD185, to a bereaved family in his constituency. He was also reported to have given gifts to other voters, including pricey melons and even crabs, Kyodo news agency said. The sums involved, while small, would constitute a violation of Japan's public office election law. Abe said Sugawara submitted his resignation after a cabinet meeting and that he had accepted it.

----------

Copyright 2019 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.