Member Info for MrAltruistic

Another decent detailed summary by Reuters. Some themes covered that were not picked up on by The Financial Times.

https://uk.reuters.com/article/us-barclays-results/barclays-beats-profit-expectations-warns-of-tough-times-ahead-idUKKBN2780NN

Evening All,

Returning late, so posting late.

IMHO probably the best summary of what was announced today from Barclays via the Financial Times.

Some key paragraphs for me included:

“Barclays was “extremely well capitalised, profitable, highly reserved?.?.?.?that gives us a degree of confidence” and said the lender might be allowed to restart shareholder payouts next year.”

“We think it is appropriate that regulators keep negative rates as a potential tool but don’t think it’s likely,” said Mr Staley.“

https://www.ft.com/content/8374dd0e-87c1-4b58-8c29-5cc4f45d3960

Please MYOC and GLA.

kassam83,

According to the Financial Times “Upbeat results give the bank’s stock a welcome surge but the giddiness is likely to be short lived”.

I am hoping that following the remainder of the UK Bank Stocks reporting next week that the “feel good factor” can carry on through next week with Barclays being positively guilty by Bank Sector association, as shown by peer competitors, with perhaps a continued modest but acceptable upward trajectory?

Add into the mix the Brexit “Pantomime” negotiations over this weekend with (fingers crossed) of a deal of some sort being agreed next week then this may also add to a further rise?

All IMHO please MYOC and GLA.

Tuesday 27 October: HSBC
Wednesday 28 October: Banco Santander, Bank of Ireland
Thursday 29 October: Lloyds Banking Group, Standard Chartered,
Friday 30 October: NatWest Group, AIB Group

Coffee Break time and thought I would check on the share price.

Wow! 113.10p as I type. Dow Jones futures looking Upwards, hopefully the purchase of Barclays Plc stock on the NYSE may translate to further blue climbs this afternoon for the UK stock?

It will be really interesting to see where this finishes at c.o.b.

All imho please MYOC and GLA

Jes Staley did a reasonably upbeat announcement/interview on Bloomberg TV this morning. I have just arrived at the office so haven’t got time to search for the link. Lots of interesting bullet points were shared though.

Shame the “50p Dog” disruptor of the member whatamess didn’t have the bravado to make a £50 bet with me to the Battersea Dogs Home that this stock would end higher than the 102.10p close on Friday 13th to that of close of Business today?He found the time to delete the post via the administrators though? Ha, ha, ha.

All imho please MYOC and GLA

Oct 23 (Reuters) - Barclays reported much better than expected third quarter earnings on Friday, as its consumer businesses swung back to profit and provisions against bad loans fell compared with the previous quarter.

Barclays reported profit before tax of 1.1 billion pounds ($1.44 billion) for the July-September period, double the 507 million pounds average of analysts' forecasts.

The British lender booked credit impairment and provision charges for the quarter of 608 million pounds, below the 1 billion pounds analysts had expected.

The combined effect of these better-than-expected results drove the bank's core capital ratio, a key measure of financial strength, to 14.6% against expectations of 14%. ($1 = 0.7656 pounds) (Reporting By Lawrence White and Iain Withers Editing by Rachel Armstrong)

https://finance.yahoo.com/news/barclays-q3-profit-beats-expectations-060032819.html

Evening All,

Not anything new here... I guess speculation will become fact at 7.00am tomorrow?

GLA

https://www.cmcmarkets.com/en-gb/news-and-analysis/can-you-bank-on-barclays-share-price-to-recover

Three related quick reads here including a short video from IG ending with potential Chartist future movements.

https://www.ig.com/uk/news-and-trade-ideas/barclays-shares-set-to-slip-ahead-of-q3-earnings-amid-covid-19-c-201021

Please MYOC and GLA.

Kassam83,

Or... straight jacket sideways movement until short term Macro Positive News is announced e.g. Brexit Agreements and/or American Economy Stimulus. I have not included Coronavirus Vaccine success.

All imho please MYOC and GLA.

saravima,

In short, trying to understand the daily market reactions currently is nigh on almost impossible. The unknown further provisions for potential Bad Debts due to Coronavirus both in Q3 and more importantly the future appear to be a constant black shadow. That said I am hopeful, with fingers crossed of some short term positive news of a Brexit Agreement by mid November and around the same time agreed circa 1.8Tn US$ Economy Stimulus post the November3rd election.

From my own personal point of view, the market is more volatile presently that has been for many, many years. Barclays, on the whole, historically tended to be a boring predictable stock. Small waves each day of around a penny or so in either direction in a cycle of direction. The skill of course was trying to buy in towards the bottom cycle and take profits towards the top. Easy eh?

As far as Mergers and Takeovers are concerned, I would not rule it out, indeed I mentioned it some time ago. The questions are is it a certainty, possibility or actually likely? One of the American Banks was rumoured to be looking at potential European Bank purchase opportunities only in the last month or so but I can’t, off the top of my head, remember which one. I will have to Google it. The simple view could be why buy at the current price when the media noise is that everything is heading down so you could buy in say 6 months time at say a further 30% discount?

Bank M&A activity is currently taking place in both Italy and Spain. However, with the politics of Brexit would any takeover traffic be “acceptable” between Europe and the UK? Similarly, could you see the Monopolies and Mergers Commission agreeing any further takeovers between the UK Big Four Banks? Bearing in mind they asked for market share of the current Biggest UK player of Lloyds to reduce i.e. Offloading TSB. Not forgetting RBS now NatWest who were forced to reduce Business Customer market share by offering their customers Financial Incentives to move the smaller banks of Santander, Metro etc.

I stress I know no more than you do.

All imho please MYOC and GLA.

So... Tuesday c.o.b. It positively inched its way Up by (almost) a penny.
On Wednesday c.o.b. can it continue this slow and steady fingernail climb upwards?

All imho please MYOC and GLA

Gary59,

We should all have a sense of humour... especially in these peculiar times. I believe from previous postings that she indicates that she is female and lives in Wales. With the impending lockdown announced by the Welsh Government I think you may get away with a personal visit.

If I’m proved wrong... then I hope your... gulp... “date” goes well?

All imho please MYOC and GLA.

saravima,

After a somewhat rollercoaster day, fighting against the FTSE100 direction of travel, they did indeed finish respectfully Up on the day.

Tomorrow, Tuesday, the Brokers currently indicate that the FTSE100 will open Down, as they predicted for today.

If.... and it is only an If, that Barclays have another Blue day against the weight of the FTSE100 then this must bode well for Friday’s Q3 Results. Add into the mix some possible positivity following Brexit Trade Pantomime discussions this week, then fingers crossed, we may breach 109p?

Here’s hoping.

All imho please MYOC and GLA.

According to the Daily Telegraph. I have posted the full piece on the basis that it as subscription service that some people may not be able to “see”.

I have mixed feelings personally... I guess bottom line is that it is perhaps better to have someone in charge than an “Interim Manager”?

All imho please MYOC and GLA.

Two more years for Jes Staley at Barclays

By Lucy Burton
19 October 2020

The lender is not expected to announce any succession plans this week

Barclays is ready to defy pressure to replace Jes Staley this week as it signals to the City that the controversial American is secure in his job for two more years, sources claim.
The lender, which is reporting its third quarter earnings on Friday, is not expected to announce any succession plans this week despite a fresh attack against the banking boss from its biggest shareholder Edward Bramson last month. 
Regulators have been investigating Mr Staley’s description of his relationship with convicted sex offender Jeffrey Epstein since early this year, prompting speculation that he could step aside despite many investors backing the under-fire chief.
However, sources said he has the board’s support to stay for another two years and that during this time his former JP Morgan colleagues CS Venkatakrishnan and Paul Compton, who were promoted to the two most senior roles in the investment bank last month, will be expected to “prove their mettle” as they battle it out for the top role.

Mr Bramson, who has been at loggerheads with Mr Staley since building a stake in the bank two years ago through his firm Sherborne Investors, originally called for shareholders to vote against his re-election in May, but later said they should hold off on voting to avoid creating further chaos during the coronavirus crisis.
Mr Epstein, who was found dead in a prison cell last August, had been an important client when Mr Staley worked at JP Morgan.
Earlier this year, he said his contact with Mr Epstein “tapered off” when he left the Wall Street bank in 2013 and gradually became less frequent, ending before he became chief executive of Barclays in 2015. He is reported to have taken a yacht to visit the private Carribean island of the convicted billionaire paedophile early that year. 
A spokesman for Barclays declined to comment. 

https://www.telegraph.co.uk/business/2020/10/19/two-years-jes-staley-barclays/

Gary59,

Ha, ha, ha.... classic! My highlight of the day....

Keep them coming my friend and Good Luck.

“ Last time our chartist predicted the initial target level. Will he be right again?”

Please MYOC and GLA

https://www.ii.co.uk/analysis-commentary/where-next-barclays-share-price-ii513846?utm_source=newsletter&utm_medium=email&utm_campaign=Afternoon_round_up_newsletter_new_template_19102020&utm_content=newsletter&spMailingID=10876273&spUserID=MzU1MTA2OTEwNzY0S0&spJobID=1613476363&spReportId=MTYxMzQ3NjM2MwS2

A lengthy read from the stalwart of Investors Chronicle. In their usual conservative manner, they concentrate more on facts than rumour.

https://www.investorschronicle.co.uk/shares/2020/10/15/q3s-preview-not-so-great-expectations-for-lloyds-natwest-barclays-and-hsbc/

Please MYOC and GLA

Evening All,

No conclusive statement either way from the Author which is of no real advantage... hedging both heads and tails.

https://www.investingcube.com/barclays-share-price-is-under-pressure-is-it-a-buy-ahead-of-earnings/

Please MYOC and GLA

Good Morning All,

With further volatility today and the fragile £1.00 support level being breached, just thought I would share some Sunshine after the Rain.

Robert Peston, Political Editor of ITV News, sent a message over two tweets yesterday, I sense from one of his “sources” to gain a first mover advantage scoop. Like all Political Journalists, they are not keen to have egg on their face so normally only share what the6 believe to be true from a reliable source. He said:

“The odds of a UK/EU free trade agreement are - in my estimation - quite close to 100%. Though I don't suppose anyone will admit to that. The outstanding issues (how often the fishing quota is renegotiated, enforcement mechanisms for state aid limits) are so conspicuously amenable to compromise, that it would be quite an achievement to muck it up. That said, we live in an Age of Incompetence, so I guess anything is possible.”

https://mobile.twitter.com/Peston/status/1316385341469794311?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

Please MYOC and GLA.