Barclays announces rights issue as profits slump
30th Jul 2013 08:07
Shares in Barclays dropped on Tuesday morning after the banking giant announced a series of actions, including an 5.8bn-pound rights issue, to reduce its capital shortfall. The move followed new regulations imposed by the Prudential Regulation Authority (PRA) which introduced a 3.0% leverage ratio
Read moreLondon pre-open: Stocks seen higher, Barclays in focus
30th Jul 2013 07:40
The FTSE 100 is expected to open higher on Tuesday as markets react to earnings reports from a number of heavyweight banks across Europe, including UBS, Deutsche Bank and Barclays. Asian markets performed well overnight, but stocks on Wall Street broadly fell as investors turned cautious ahead of a
Read moreLondon close: Barclays weighs on the Footsie
29th Jul 2013 17:05
London equities finished the session slightly higher, up by 0.08% at 6,560.25 points or by 5.40 points. The benchmark came off earlier highs following a weaker than expected report on housing Stateside and after a report in the Financial Times said that Barclays may tomorrow announce a greater th
Read moreTuesday preview: Barclays to unveil capital raising plans
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 Ti
Read moreBroker tips: Barclays, Aberdeen, Hiscox
29th Jul 2013 13:43
Analysts at Investec are quite critical of any attempt by Barclays to raise fresh capital - which they think the lender does not need - at current valuations. In their opinion that would be tantamount to capitulating to regulators´ demands. "How very disappointing!" they write to clients. In fact,
Read moreBroker snap: Investec likes Barclays despite capitulation
29th Jul 2013 11:33
Analysts at Investec are quite critical of any attempt by Barclays to raise fresh capital - which they think the lender does not need - at current valuations. In their opinion that would be tantamount to capitulating to regulators´ demands. "How very disappointing!" the write to clients. In fact,
Read moreBarclays to update market on possible capital raising tomorrow
29th Jul 2013 10:55
Barclays has issued a statement noting the "media speculation" about a possible equity capital raising. In that regard, they admit that the lender has been in discussions with the Prudential Regulatory Authority (PRA) regarding its financial and capital management plans. Barclays will update the
Read moreLondon open: Analysts challenge consensus forecasts for Fed and China
29th Jul 2013 08:15
According to the Financial Times European demand for oil is is rising for the first time in two years, possibly indicating increased economic activity. Yet that may not be the only thing which has been on the increase of late. Thus, and for the first time in a quite a bit, investors have awoken on
Read moreMonday newspaper round-up: Barclays, Savills, Publicis
29th Jul 2013 06:50
The Serious Fraud Office is expected to receive significant funding from the UK Treasury to help in its investigation into Barclays' emergency fundraising five years ago, according to the Financial Times. Property consultant Savills said its research shows almost 2,000 stores have in Britain have b
Read moreSunday newspaper round-up: Barclays, Lloyds, GKN
28th Jul 2013 16:28
Barclays could announce a four billion pounds rights issue on July 30th as part of its plan to boost capital, the Financial Times and other papers reported. The bank may also issue hybrid bonds and shrink its balance sheet to meet regulatory demands for a £7bn capital shortfall. The bank reports sec
Read moreThursday newspaper round-up: SFO, Barclays, M&S
25th Jul 2013 06:46
The Serious Fraud Office is set to bring new charges against individuals suspected of LIBOR rigging, its head told The Times. Barclays is nearing a deal with regulators that would see it comply with a new regulatory leverage requirement by December next year, according to the Financial Times. Mar
Read moreBarclays Africa receives regulatory approval for Absa merger
22nd Jul 2013 14:38
Barclays has been given the green light by regulators to merge its African operations with Absa Group. Absa, the South African bank in which Barclays owns a controlling stake, will start trading under Barclays Africa Group in Johannesburg on August 2nd. The deal, announced in December, was approv
Read moreLondon midday: Stock fall with corporate earnings in focus
22nd Jul 2013 11:56
The FTSE 100 has started the week on a dull note, trading with moderate losses on Monday morning as traders turned nervous a busy week for corporate earnings. Markets are in for a "bumpy ride" this week with nearly a third of S&P 500 companies set to report their quarterly earnings, according to Fi
Read moreLondon open: Stocks fall ahead of busy week for earnings
22nd Jul 2013 08:23
The FTSE 100 opened slightly lower on Monday morning as investors turned cautious ahead of a busy week for corporate earnings across the globe. Markets are in for a "bumpy ride" this week with nearly a third of S&P 500 companies set to report their quarterly earnings, according to Financial Sales T
Read moreLondon close: American tech giants weigh on global equities
19th Jul 2013 18:04
London's benchmark index closed at 6,631 on Friday, down by 4 basis points. The S&P 500 and Dow Jones closed at fresh all-time highs last night on the back of positive economic data and a raft of corporate earnings which came in better than expected. After the closing bell however, tech giants Goog
Read more