UPDATE: Barclays Saw Slowdown In Invest Bank Activities In 2Q

30th Jun 2010 16:14

(Adds comment from finance director and detail.) By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Barclays PLC (BCS) Finance Director Chris Lucas said Wednesday that the U.K. bank saw a slowdown in investment banking activities in May and June, although overall trends for the group from the first quarter carried out to the second. The executive also said conditions in Spain have deteriorated in the second quarter due to a further fall in property values, but he said the bank is keeping its impairment guidance for the entire year unchanged. "Our guidance for impairment overall for Barclays in 2010 remains for an overall improvement over 2009 of between 15% and 20%," Lucas told investors at a conference. Barclays reported GBP8.07 billion in such charges for 2009. He also said impairment trends in the bank's retail operations continued to improve, while conditions have worsened in its corporate business in the country. In April, Barclays said its overall exposure to Spain and Portugal was "small." Lucas also said a widening in credit spreads in the second quarter will result in "a not insubstantial own credit gain." Barclays reports second-quarter results Aug. 5. At 1511 GMT, Barclays shares were up 2 pence, or 0.9%, at 270 pence. -By Patricia Kowsmann, Dow Jones Newswires. Tel +44(0)207-842-9295, [email protected] (END) Dow Jones Newswires June 30, 2010 11:14 ET (15:14 GMT)