We would love to hear your thoughts about our site and services, please take our survey 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: 206.15
Bid: 206.10
Ask: 206.15
Change: 1.80 (0.88%)
Spread: 0.05 (0.024%)
Open: 204.00
High: 207.45
Low: 203.75
Prev. Close: 204.35
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 2-Norway's oil fund pares UK property portfolio after Brexit vote

Wed, 17th Aug 2016 13:02

* Downgrades value UK property book by 5 pct

* Says has questions on Brexit impact on freedom of movement

* Fund is major foreign investor in UK

* Repeats will remain a long-term investor in country (Recasts on Brexit, adds deputy CEO quotes, detail)

By Gwladys Fouche

OSLO, Aug 17 (Reuters) - Norway's $893-billion sovereignwealth fund cut the value of its UK property portfolio by 5percent after Britain's vote to leave the EU, and is concernedat the prospect that Brexit might limit free movement of goods,services and people, it said on Wednesday.

The world's largest sovereign fund is one of Britain'sbiggest foreign investors, owning shares in most top UKcompanies and holding $11 billion in government bonds. Itco-owns Regent Street, one of London's premier shopping streets.

Conversely, Britain is crucial to the fund as itssecond-largest investment location after the United States,accounting for 10.2 percent of the fund's value at end-2015.

Property represented 3.1 percent of the fund's total valuein the second quarter.

Deputy CEO Trond Grande told a results news conference thatthe decision to reduce the British property portfolio by 1.9billion Norwegian crowns ($230 million) had been prompted byexternal assessors reporting greater uncertainty in theirvaluation after the June 23 vote.

Some 23 percent of the fund's property investments, or 38billion crowns ($4.62 billion), are in Britain, and 16 percentin London alone, he said.

The fund reiterated its position that it would remain along-term investor in Britain, but Grande told Reuters that, onthe margin, the fund had "question marks" as to what Brexitwould look like, once it has been negotiated.

"For a fund that invests the way we do, anything that is notin favour of free movement of goods, services and people -- thatcreates frictions in the market place," he said in an interview.

"And if that hampers growth in some shape or form, that willultimately be to our disadvantage."

One of Britain's largest car insurers, Admiral Group, saidon Wednesday it could move its European business to Ireland orelsewhere if British insurers lost their right to sell productsacross Europe as a consequence of leaving the EU.

The Norwegian fund, which has been built up from North Seaoil and gas revenues and is managed by a unit of the centralbank, swung to a positive return in the second quarter, boostedby gains in its fixed-income portfolio.

The fund earned a return of 1.3 percent in the quarter,lagging its benchmark index by 0.1 percentage points. In thefirst quarter, it booked a loss of 0.6 percent.

The government withdrew 24 billion crowns during the quarterto pay for public expenses at a time of declining oil and gasrevenues, against 25 billion crowns in the first quarter. ($1 = 8.2339 Norwegian crowns) (Editing by Kevin Liffey)

More News
Today 10:02

LONDON BROKER RATINGS: Deutsche Bank likes Frasers; Barclays cuts JD

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

Read more
26 Apr 2024 16:35

London close: Stocks buoyed by banking, mining positivity

(Sharecast News) - London's equity markets closed positively on Friday, buoyed by gains in the banking sector following better-than-expected results from NatWest.

Read more
26 Apr 2024 16:19

European bank stocks at highest since 2015 after earnings boost

STOXX Europe 600 banks index highest since Oct. 2015

*

Read more
26 Apr 2024 09:45

NatWest profit falls less than feared ahead of state escape

First-quarter profit down 27% in competitive market

*

Read more
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

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.