focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar 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: 216.75
Bid: 216.10
Ask: 216.15
Change: 1.85 (0.86%)
Spread: 0.05 (0.023%)
Open: 214.55
High: 216.75
Low: 214.55
Prev. Close: 214.90
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Wall Street weighs into Britain's EU vote: Goldman, JPMorgan back 'in' campaign

Thu, 21st Jan 2016 14:33

* Goldman, JPMorgan make large donations to in campaign

* Morgan Stanley also likely to make a donation - source

* Cameron tells businesses: speak up about EU benefits

* Cameron hopes for deal in February, says not there yet (Adds likely Morgan Stanley donation, Cameron remarks)

By Sinead Cruise and William James

LONDON, Jan 21 (Reuters) - Goldman Sachs and JPMorgan aremaking large donations to the campaign to keep Britain insidethe European Union, sources said, highlighting the concern amongsome of the world's biggest banks over the impact of a Britishexit.

Goldman Sachs has agreed to donate a "substantialsix-figure sum" according to one source, while JPMorgan was preparing to make a similar donation, another sourcefamiliar with the matter said.

Another U.S. bank, Morgan Stanley, is also likely to makedonation but has yet to decide a sum to contribute, a sourcesaid. The bank declined to comment.

In the face of growing Euroscepticism among the Britishelectorate and political pressure from within his own party,Prime Minister David Cameron has promised to hold a referendumon Britain's EU membership by the end of 2017.

On Thursday, Cameron urged business leaders at the WorldEconomic Forum in the Swiss resort of Davos to speak up aboutthe benefits of Britain staying in a reformed EU.

Cameron is hoping to head off the threat of a British exit,or 'Brexit', by negotiating a deal on reforms to the bloc thataddress concerns about immigration, sovereignty andcompetitiveness at an EU summit next month.

He received some support on Thursday from French PresidentFrancois Hollande, who said none of Britain's EU reform demandswere "insurmountable", but that they must not prevent the eurozone from pursuing further integration.

Cameron said very good progress had been made with the EUbut that they were "not there yet".

With British public opinion finely balanced andrenegotiations with Cameron's EU peers meeting resistance,multinational businesses in Britain are facing up to the riskthat the vote could sever links with the country's biggesttrading partner.

The donations by three heavyweight U.S. banks with heavyEuropean presence reflect the financial sector's acute concernsthat Britain's role as a global financing hub and major tradingcentre for the euro could be under threat if it gives up itsmembership.

British banks were more circumspect in pledging theirsupport. A source familiar with Barclays said the firmhad a policy not to make political donations, while a sourcewith knowledge of Royal Bank of Scotland said the bankwas waiting for clarity on the government's position.

"THE ESTABLISHMENT"

A spokesman for pro-EU group Britain Stronger in Europe, theexpected recipient of the donations, said it had a broad rangeof backers: "This includes many small donors, philanthropistsand businesses worried by job losses and price rises if we wereto leave."

Until a date for the referendum is set, campaigns on bothsides can accept and spend donations without restriction.However they may be required to declare details of prior donorsonce the government sets a referendum date. Spending will becapped during the period immediately before the referendum.

The donations were dismissed as "no surprise" by Leave.EU,one of several pro-Brexit campaigns, which says the EU worksagainst ordinary Britons and protects vested political andcommercial interests.

"The referendum will be a campaign of the British peopleagainst the establishment of international bankers,multinational corporate tax dodgers and out-of-touchpoliticians," said Arron Banks, the group's co-founder.

Arch-Eurosceptic Nigel Farage, leader of the UK IndependenceParty whose popularity put pressure on Cameron to make the offerof a referendum, described the donations as "the unholy allianceof big banks and big politics."

Cameron, however, is keen to enlist the support ofbusinesses to help his reform agenda clear political hurdles inother European capitals, and to illustrate the damage that hebelieves leaving the bloc would do to the country's economy.

"If business backs my reforms ... I would argue get outthere and support those things," he said in Davos.

"The sooner you can start to look at your own businesses andcome up with the examples and the ideas about the benefits andthe problems that there are with Europe the more that you areable to help to explain and set the context for this vitallyimportant question." (Additional reporting by Elizabeth Piper in Davos, RachelArmstrong and Kylie MacLellan in London, Writing by WilliamJames; Editing by Guy Faulconbridge/Jeremy Gaunt)

More News
26 Apr 2024 09:33

LONDON BROKER RATINGS: Peel Hunt cuts ConvaTec to 'reduce'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
25 Apr 2024 16:57

LONDON MARKET CLOSE: FTSE 100 shakes off red-hot US inflation gauge

(Alliance News) - London's FTSE 100 outperformed on Thursday, enjoying a solid rise on largely well-received corporate earnings and a share price jump for miner Anglo American after it received a takeover bid from peer BHP.

Read more
25 Apr 2024 15:14

London close: Stocks finish mixed as US GDP growth slows

(Sharecast News) - London's stock markets finished with a mixed performance on Thursday, as investors digested a slower-than-expected GDP growth reading from the United States, while a slew of well-received earnings underpinned the top-flight index.

Read more
25 Apr 2024 11:00

Where are Wall Street's analyst notes on Trump's Truth Social?

NEW YORK, April 25 (Reuters) - Trump Media & Technology Group is one of the most actively traded U.S. stocks, yet Wall Street's equity analysts are staying clear.

Read more
25 Apr 2024 09:19

Barclays Q1 profit falls 12% as trading slump hits

Q1 profit of 2.3 bln pounds, just above forecasts

*

Read more
25 Apr 2024 08:36

TOP NEWS: Barclays first quarter profit falls but beats expectations

(Alliance News) - Barclays PLC on Thursday reported a fall in first quarter profits as a weak investment banking performance hindered performance.

Read more
25 Apr 2024 07:56

REPEAT: Miner Anglo American reviews takeover bid from rival BHP

(Alliance News) - Stocks in London are called to open slightly higher, after a busy start to the day, with corporate earnings and updates.

Read more
25 Apr 2024 07:43

LONDON BRIEFING: Miner Anglo American eyes rival BHP takeover

(Alliance News) - Stocks in London are called to open slightly higher, after a busy start to the day, with corporate earnings and updates.

Read more
25 Apr 2024 07:01

Barclays Q1 profits fall 12%

(Sharecast News) - Barclays Bank reported a 12% fall in first-quarter profit on lower income as customers shopped around for better savings rates and mortgage deals.

Read more
24 Apr 2024 22:47

Microsoft-backed Rubrik prices IPO above range at $32 per share, source says

NEW YORK, April 24 (Reuters) - Rubrik, the cybersecurity software startup that counts Microsoft among its investors, priced its initial public offering at $32 per share on Wednesday above its indicated price range, according to a person familiar with the matter.

Read more
24 Apr 2024 19:38

Barclays takes EUR260 million loss from Italian mortgage book sale

(Alliance News) - Barclays PLC on Wednesday said it would book a EUR260 million pretax loss after agreeing the disposal of its Italian mortgage portfolio.

Read more
24 Apr 2024 11:57

Thursday preview: US Q1 GDP, Barclays in focus

(Sharecast News) - Investors' attention on Thursday will be on a first reading for U.S. gross domestic product growth during the first quarter.

Read more
23 Apr 2024 13:26

Gazprom subsidiary ordered to stop Russian lawsuit against UniCredit

LONDON, April 23 (Reuters) - A subsidiary of Russia's Gazprom was on Tuesday ordered by the UK's Supreme Court to stop suing Italian bank UniCredit in Russia over an aborted gas project.

Read more
23 Apr 2024 08:26

Britain's FTSE 100 blue-chip stock index hits record high

LONDON, April 23 (Reuters) - Britain's blue-chip FTSE 100 index hit a record high on Tuesday, following last week's sharp selloff, as fears of the Middle East crisis escalating eased and investors looked ahead to top U.S. earnings later in the week.

Read more
23 Apr 2024 07:59

Citi remains 'overweight' UK banks; HSBC and Barclays 'top picks'

(Sharecast News) - Citi said on Tuesday that it remains 'overweight' UK banks, with HSBC and Barclays its top picks, but Standard Chartered its least preferred.

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.