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Tuesday preview: Barclays to unveil capital raising plans

Mon, 29th Jul 2013 14:28

Barclays will update the market on its capital raising plans on Tuesday when it reports its first-half results.The bank is exploring a greater than £5.0bn rights issue as part of a fundraising programme aimed at filling a capital hole thought to be as large as £7.0bn, according to The Financial Times.The lender is trying to meet regulators' concerns over its balance sheet as provisions against past mis-selling scandals continue to rise."Barclays PLC notes the media speculation about a possible equity capital raising," the British lender said in a statement."Barclays has been in discussions with the Prudential Regulatory Authority (PRA) regarding its financial and capital management plans. Barclays will update the market alongside its Interim results on Tuesday July 30th."Last month the Bank of England's new PRA ruled that Britain's five biggest banks including Barclays need to raise £13.4bn to plug a £27.1bn gap in their finances.Barclays will not be the only company in focus on Tuesday with interim results out from BP, Capital & Counties Properties, Domino's Pizza, Drax Group and Weir Group, among others.On the macro-economic front, reports in Europe, including the Business Climate Indicator, Business Climate Indicator and Purchasing Managers' Index for Retail, will provide a backdrop for the European Central Bank's meeting on Thursday. In the US, consumer confidence figures will be closely watched.Tuesday, July 30thINTERIMSBarclays, BP, Brammer, Capital & Counties Properties , Domino's Pizza Group, Drax Group, Elementis, Hutchison China Meditech Ltd, Jardine Lloyd Thompson Group, LSL Property Services, Pace, Telecity Group, Tullett Prebon, Weir GroupQUARTERLY PAYMENT DATEDow Chemical CoINTERNATIONAL ECONOMIC ANNOUNCEMENTSBusiness Climate Indicator (EU) (10:00)Consumer Confidence (US) (15:00)Economic Sentiment Indicator (EU) (10:00)PMI Retail (EU) (09:00)PMI Retail (GER) (08:55)Q2BP, Wolfson MicroelectronicsANNUAL REPORTAberforth Geared Income TrustIMSSDiplomaAGMSGeopark Holdings Ltd., Halfords Group, Insetco, Plastics Capital, Schroder UK Growth Fund, Speymill, Top Level Domain Holdings Ltd. (DI), Water Hall GroupFINAL DIVIDEND PAYMENT DATENorcrosRD

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