Barclays Share Discussion Threads

[dr biotech] 18/1/2017 22:22

HSBC and UBS to move jobs abroad because of Brexit, probably just the start of us losing a lot of highly paid jobs.

[bernie37] 18/1/2017 20:30

Hurdles slow Barclays sale of Africa division
Pretoria News1 Dec 2016Renee Bonorchis
BARCLAYS sold the first slice of its controlling stake in Barclays Africa Group just two months after chief executive Jes Staley laid out his strategy to boost capital.
Here is why the bank’s next move has taken much longer and some key issues the 365-year-old lender must overcome to speed up its two- to three-year time frame for the sell down:
How difficult is it to sell the stake?
Project teams are working late nights at Barclays Africa to make sure every detail is taken into account, according to the Johannesburg-based lender.
The SA Reserve Bank must ensure Barclays’ withdrawal doesn’t endanger stability across the continent, put the rand at risk or upset transactions for Barclays Africa’s 12.5 million customers.
Also at stake is the future of 41 250 employees at the company formerly known as Absa Group, more than 70 percent of whom are in South Africa.
What’s happening inside the banks?
The banks are negotiating a transitional services agreement to deconsolidate Barclays Africa, according to Staley.
They are also figuring out how to change reporting lines within teams; maintain global distribution for investment banking clients; which customers should get transferred to different units; how many staff are needed and where; how to change Barclays-linked e-mail addresses; how to deal with software licences; and who will do dollar-based trading for clients across Africa.
What has the uncertainty done to Barclays Africa?
Barclays Africa is the worst-performing lender on the six-member FTSE/JSE Africa banks index this year, having gained 12 percent compared with the average increase of 24 percent, with investors concerned about shares that still have to be sold on the market. The stock is trading at a 12-month dividend yield of 6.3 percent, the highest in the index.
What happens to Barclays Africa’s name?
After more than 100 years in Africa, there is a real chance that the name Barclays may disappear from the continent.
“Decisions on brand are being carefully considered and will be implemented over time once they have been taken,” Barclays Africa said in an e-mailed response to questions.
Absa kept its branding and red colours even after the purchase by Barclays in 2005, while the turquoise colours of Barclays was retained in the other African units.
What do Barclays’ holdings look like now?
The UK bank owns 50.1 percent of the South African lender, a stake which is valued at about R68 billion.
It sold about 12 percent through an accelerated book build in May for R13.1bn, where demand exceeded supply.
Who might be interested in a stake in Barclays Africa?
Dubai-based Abraaj Group and US private equity firm Carlyle Group were initially interested in a stake along with Bob Diamond’s Atlas Merchant Capital, but withdrew after regulators made it clear it didn’t want Barclays Africa in the hands of buyout companies.
While South Africa’s Public Investment Corporation is interested in boosting its 6.5 percent holding, it has said it hasn’t yet been able to form a consortium with enough money, and may take up more shares in another book build.
When might another book build take place?
Barclays hadn’t yet applied to the Reserve Bank to take its stake below 50.1 percent, the central bank said in an e-mailed response to questions. Instead, it’s working with the regulator along with Barclays Africa to ensure the process is smooth once the transaction is ready.
The London-based parent, which would need to make separation payments, was
working well with Barclays Africa management and was under no pressure to get the transaction done earlier, chief financial officer Tushar Morzaria said.
The parent would want to get a sale done as soon as possible following a 47 percent rally this year in pound terms in Barclays Africa’s share price, said Harry Botha, an analyst at Avior Capital Markets.
How is the SA Reserve Bank ensuring stability?
By asking a lot of questions. From technology systems, to the working of ATMs and the company’s strategies to lessen panic if customers react negatively to changes, the lender and the central bank are planning for every scenario.
The Pretoria-based central bank is also playing the role of lead regulator for all the African countries involved.
What are the regulations?
Under the present rules, no investor can buy more than 15 percent of a South African bank without permission from the Reserve Bank.
The purchase of a controlling stake needs approval from the finance minister, who will work with the regulator.
There is no process in the law for a transaction of this nature, according to Adrian Cloete, an analyst at PSG Wealth in Cape Town.
“A regulatory deconsolidation is very complex.” – Bloomberg

[bernie37] 18/1/2017 20:15

Home » Running your investments » Shares & trading
Exclusive: Barclays shares can 'double by the end of 2017' following latest results
29 JUL 2016
The latest results from banking giant Barclays, released in London this morning, show sufficient progress that investors should start thinking of the shares doubling by the end of 2017, according to Rob James, banks analyst at Old Mutual Global Investors.
COMMENT
Exclusive: Barclays shares can 'double by the end of 2017' following latest results
David Thorpe
David Thorpe

The latest results from banking giant Barclays, released in London this morning, show sufficient progress that investors should start thinking of the shares doubling by the end of 2017, according to Rob James, banks analyst at Old Mutual Global Investors.
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The latest results from banking giant Barclays, released in London this morning, show sufficient progress that investors should start thinking of the shares doubling by the end of 2017, according to Rob James, banks analyst at Old Mutual Global Investors.James principally works on the Old Mutual UK Alpha fund, which has an investment of around £70 million in Barclays shares right now.The analyst commented that the results this morning reveal that, ‘everything is going according to the plan outlined by the chief executive, the only thing revealed this morning is that the plan is moving ahead faster than expected.’The results revealed that what the company call the ‘core’ assets of the business showed a 19 per cent increase in profits, the overall profit decline was a consequence of writing down the value of some non-core assets, businesses that are in the process of being sold.Read more: Why I’m happy to own Barclays shares, despite Brexit, by investor of £1.3 billionThose units include a European retail bank and an African operation. James commented that, ‘those assets are not a “bad bank”, they are good businesses, it is just that under the Basel III banking regulations, they are not good for Barclays to own.’ He added, ‘there hasn’t been any bad news in these Barclays results, even the investment bank achieved a return on equity of above 10 per cent.’James believes that a 10 per cent return on equity is what a bank should be achieving.He continued that, with the business achieving a return at that level, yet in valuation terms the shares trading at half the value of the tangible assets (book value) of the company, ‘in my world that means the shares should be doubling by the end of 2017, as evidence comes out of the plan happening, and I think you can trust the quality of the assets.’Bank shares suffered severe gyrations in the wake of the EU referendum result, but James commented that while the collapse in bond yields since June 23rd is bad news for retail banks, the increased volatility helps investment banks.Barclays shares reacted positively to the news today, up 8 per cent at the time of writing.

[johnwise] 18/1/2017 13:48

Barclays raises copper, iron ore, steel outlook on the Trump factor

[mbmiah] 18/1/2017 12:03

220 anyone? A nice top up point at 220 I would say.

[johnwise] 18/1/2017 09:33

Trump Will Boost Growth by 56% by 2018 Says IMF



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[portside1] 18/1/2017 08:43

Dear John,
Today I set out the Government’s 12 negotiating objectives for leaving the European Union - part of our plan for Britain, which aims to get the right deal abroad while ensuring a better deal for ordinary working people here at home – and I wanted you to be one of the first to know about it.
The referendum last June was a vote to leave the European Union. But it was also a vote for change – to shape a brighter future for our country, to make it stronger and fairer, and to embrace the world. And it is the job of this Conservative Government to deliver it and to get the right deal for Britain as we do.
We seek a new and equal partnership – between an independent, self-governing Global Britain and our friends and allies in the European Union. We are leaving the EU, not Europe.
Tell me what you think about our plan.
That means taking the opportunity of this great moment of national change to step back and ask ourselves what kind of country we want to be. To pursue 12 objectives that amount to one goal: a new, positive and constructive partnership between Britain and the European Union.
1. Certainty: whenever we can, we will provide it. And we can confirm today that the Government will put the final deal that is agreed between the UK and EU to a vote in both Houses of Parliament.
2. Control of our own laws: we will bring an end to the jurisdiction of the European Court of Justice in Britain. Because we will not have truly left the European Union if we are not in control of our own laws.

[portside1] 18/1/2017 08:36

buy buy buy results will be excellent

[astol] 17/1/2017 19:24

diku and porty I will be happy to be the best man

[chris coxon] 17/1/2017 17:29

Careful diku, people will begin to think you and porty are an item!!

[diku] 17/1/2017 15:10

porty is here...

[manics] 17/1/2017 15:01

...intriguing!

[portside1] 17/1/2017 15:00

just to let you all no barcs to give out great news next month

[johnwise] 17/1/2017 11:48

Abraaj Is Interested in Buying Barclays Africa, CEO Naqvi Says

[johnwise] 17/1/2017 11:46

World's largest fund manager demands cuts to executive pay and bonuses

BlackRock threatens to stir shareholder rebellions, warning UK companies they must match boardroom pay rises with that of workers

[clond] 17/1/2017 06:57

Downwards and sideways movement up to the divi - not seen this for a while so do we see a big rise on the day instead of the usual crash and burn ?

[bernie37] 16/1/2017 15:03

Looking out to 2017, analysts at Macquarie retained their "bullish" stance on European banks, arguing that multiples in the sector were not "stretched", earnings were likely to recover further and consensus expectations were undemanding.
However, their bias was for retail/commercial banks with cost and impairment improvements.
"We are cautious on optimistic revenue stories and would thus avoid the investment banks," the broker said in a research note published on 14 January but dated 12 January.
Despite the sector´s 40% rally from its June lows, valuation multiples for the Stoxx 600 banks index had only just returned to their normal historical levels, Macquarie said.
The relative price-to-earnings ratio stood at 81% that of the Stoxx 600, and the relative price-to-book value at 49%, with the latter reflecting the sector´s relative return on equity at 45%.
"Recent price gains have been dramatic in many cases but we don’t think they are excessive – or over," it said.
In Macquarie´s opinion, the key swing factors for European bank earnings in 2017 would be costs and impairments.
A return to historical trough-cycle levels for the former might add about 15% to the sector´s earnings and a reversion to those same levels for the latter about 10%.
"Against this, the revenue outlook is still tough. We see asset re-pricing keeping margins under pressure and we are sceptical on capital markets in view of an unspectacular 4Q and US rate headwinds to FICC, debt issuance and APAC," it cautioned.
Among the broker´s 'top buys' was Lloyds, which had underperformed the section thus far. Furthermore, the broker´s estimate of impairments in 2017 was 25% below consensus.
"Permanent TSB is another cheap, indirect play on better Brexit outcomes on a 40% TNAV discount and geared to Irish housing recovery," the broker added.
On investment banks, Macquarie said: "we don’t buy the revenue reflation argument, stocks have rallied hard and 4Q looks unexciting. We downgrade Credit Suisse to 'underperform' where it joins UBS and Deutsche Bank. After a 35% rally we are also lowering Barclays to 'neutral'.

[clond] 16/1/2017 12:23

Źzzzzzzzz

[dontbuuy] 16/1/2017 09:05

Breaking down 231p

204p not impossible

D b

[diku] 15/1/2017 21:20

Surely not mondaytuesday but possible Wednesday!!...

[mondaytuesday] 15/1/2017 20:38

portside, let me know if you want to meet up for a bum.

[bernie37] 15/1/2017 17:19

How do you get $669 billion in one room? Ask Jes Staley.

The Barclays chief executive was seen wining and dining some of the world’s biggest hedge funds — all in an effort to wrest business from an unlikely nemesis: Goldman Sachs CEO Lloyd Blankfein.

Barclays held a $1 million bash for 55 hedge funds — that have combined assets under management of about $669 billion, according to filings and reports — at Cipriani at 25 Broadway on Oct. 13, according to hedgies and documents obtained by On the Money.

The party was a bid to chip away at Goldman’s fearsome prime brokerage business, which handles orders for many of the biggest funds in the world, according to sources.

According to an invitation list, attendees included reps from Man Group, Och-Ziff Capital Management, Renaissance Technologies and Elliott Management, just to name a few.

It doesn’t appear that any manager with less than roughly $350 million was invited to the bash. It’s unclear how much business Barclays was able to siphon away from Goldman.

The blowout at Cipriani was the capstone of Barclays’ all-day Prime Services Hedge Fund Symposium at The Conrad in downtown Manhattan.

While Barclays employees at the party were heard bragging that the party cost the bank $1 million, another source at the bank said it was more likely to have cost $100,000.

Marc Hazelton, a bank spokesman, declined to comment.

[bernie37] 15/1/2017 17:14

hxxp://realmoney.thestreet.com/articles/12/27/2016/barclays-showing-some-promise-new-year?_ga=1.132382283.457180360.1484500040

[bernie37] 15/1/2017 17:00

Here is something from Nikkei Asian Review that might interest you:
Interview: Barclays 'remains committed to Asia'
hxxp://s.nikkei.com/2ezWKat