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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

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Share Price: 202.35
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UPDATE 1-Barclays gives information to U.S. precious metals probe

Tue, 03rd Mar 2015 10:31

* DoJ investigating precious metals ops at 10 banks -WSJ

* Precious metals lawsuits pending in U.S. courts (Adds background, Barclays results)

By Jan Harvey

LONDON, March 3 (Reuters) - Barclays has been providinginformation to an investigation into precious metals by the U.S.Department of Justice (DoJ), the bank said in its 2014 annualreport on Tuesday, a week after a similar statement by HSBC.

The DoJ and the Commodity Futures Trading Commission areinvestigating at least 10 banks for possible rigging of preciousmetals markets, the Wall Street Journal reported last week,citing people close to the inquiries.

Tuesday's acknowledgment of its involvement in theinvestigation comes after HSBC said in its annualreport on Feb. 23 that the DoJ had issued a request to HSBCHoldings in November seeking documents related to a criminalantitrust investigation it was conducting.

The latest investigation is a further distraction for a bankbattling to cut costs and boost profit even as it prepares tosettle allegations that its traders manipulated foreign exchangemarkets. Taking into account charges, provisions andrestructuring costs, the bank suffered a 21 percent drop infull-year net profit, it said on Tuesday.

Regulatory scrutiny of precious metals trading andbenchmarking has increased since the Libor rigging scandalexposed widespread manipulation of interest rates in the foreignexchange market.

Swiss regulator FINMA said in November that it found a clearattempt to manipulate precious metals benchmarks during itsinvestigation of precious metals and foreign exchange trading atUBS.

"The behaviour patterns in precious metals were somewhatsimilar to the behaviour patterns in foreign exchange," FINMAdirector Mark Branson said in a conference call withjournalists.

Germany's Bafin has been looking into how precious metalsbenchmarks are set, while Britain's Financial Conduct Authoritysaid it was broadly looking at gold as part of an investigationinto commodity benchmarks.

Meanwhile, multiple lawsuits have been filed in U.S. courts,alleging a conspiracy to manipulate precious metals prices.

The banks involved in producing global gold, silver,platinum and palladium benchmarks, known as the fixes, said lastyear they would no longer administer the standards.

A new silver benchmark is now administered by CME Group and Thomson Reuters, while the London MetalExchange produces platinum and palladium benchmarks. TheIntercontinental Exchange (ICE) will produce a new goldbenchmark from March 20. (Editing by David Goodman)

More News
13 Feb 2024 14:34

UK earnings, trading statements calendar - next 7 days

Wednesday 14 February 
Coca-Cola HBC AGFull Year Results
Dunelm PLCHalf Year Results
Pan African Resources PLCHalf Year Results
Severn Trent PLCTrading Statement
United Utilities Group PLCTrading Statement
Thursday 15 February 
Benchmark Holdings PLCQ1 Results
Centrica PLCFull Year Results
MJ Gleeson PLCHalf Year Results
Relx PLCFull Year Results
South32 LtdHalf Year Results
Friday 16 February 
NatWest Group PLCFull Year Results
Segro PLCFull Year Results
TBC Bank Group PLCFull Year Results
Monday 19 February 
Bank of Cyprus Holdings PLCFull Year Results
MoneySupermarket.com PLCFull Year Results
Transense Technologies PLCHalf Year Results
Wilmington PLCHalf Year Results
Tuesday 20 February 
Barclays PLCFull Year Results
BHP Group LtdHalf Year Results
Coca-Cola Europacific Partners PLCFull Year Results
Gran Tierra Energy IncFull Year Results
InterContinental Hotels Group PLCFull Year Results
Petra Diamonds LtdHalf Year Results
Springfield Properties PLCHalf Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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9 Feb 2024 17:02

LONDON MARKET CLOSE: FTSE 100 falls at end of tepid week

(Alliance News) - Stock prices in London closed lower on Friday, with the FTSE 100's losing streak extending to three days, as sentiment in Europe remains tetchy despite a largely stellar start to the day in New York.

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9 Feb 2024 15:15

London close: Stocks turn sour in afternoon trading

(Sharecast News) - London's markets turned lower on Friday afternoon, concluding a volatile week on a negative note.

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9 Feb 2024 12:46

Barclays pledges to stop directly financing new oil and gas projects

(Alliance News) - Barclays PLC has promised to stop directly financing energy clients' new oil and gas projects as part of updates to its climate change strategy.

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9 Feb 2024 11:44

LONDON MARKET MIDDAY: European markets quiet heading into afternoon

(Alliance News) - European stock markets were quiet heading into Friday afternoon, as investors eye the annual US consumer price index benchmarks revisions.

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9 Feb 2024 08:49

LONDON MARKET OPEN: Tesco bank sold to Barclays for GBP600 million

(Alliance News) - Stock prices in London lacked direction on Friday, after Barclays announced plans to buy the retail banking business of Tesco Bank.

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9 Feb 2024 08:11

Barclays adds scale, income and profits with Tesco Bank deal, says Shore Capital

(Sharecast News) - Shore Capital has reiterated a 'buy' recommendation on Barclays after its deal to takeover Tesco Personal Finance for £600m, saying that the stock should double from current levels.

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9 Feb 2024 07:59

TOP NEWS: Barclays buys Tesco Bank as supermarkets refocus on food

(Alliance News) - Barclays PLC and Tesco PLC on Friday announced an agreement for Barclays to buy the retail banking business of Tesco Bank, as the big UK supermarkets scale back their forays into financial services.

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9 Feb 2024 07:51

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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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.

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4 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

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26 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.

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26 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.

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25 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.

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25 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.

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