Barclays Share Discussion Threads

[isis] 14/10/2010 16:58

It's a about 3 1/2 weeks.

[b1gman2] 14/10/2010 16:40

9th November seems a long way off.

[mickyboy2] 14/10/2010 16:04

Do not no if this has been posted But could there be an overhang to clear?
Fears of a dramatic slowdown at Barclays' investment bank have escalated after the lender signalled that the recent boom in debt and currency trading is fast petering out.



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In a series of private meetings with City analysts this week, the bank has made it plain that the investment banking industry continues to be rocked by the on-going jitters over the strength of the global recovery.
During a presentation at City giant Credit Suisse on Thursday evening, Barclays' finance head Chris Lucas warned that revenues across the investment banking industry would fall by between 10pc and 20pc in the third quarter.

And in a research note circulated to clients yesterday, Credit Suisse analyst Jonathan Pierce said the slump could lead to Barclays Capital, its powerhouse investment banking division, under-shooting revenue forecasts by some £700m.

'We don't see an end to downgrades [to consensus estimates] any time soon,' said Pierce.

And analysts at Swiss bank UBS also voiced concerns after a meeting with Barclays executives earlier that day.

'Client activity is lacklustre, driven by an uncertain political and macro-economic environment,' the analysts said in a research note, adding: 'This enviroment is likely to prevail over the near term.'

According to Credit Suisse, Barclays is now looking to slash its cost base, which has soared over the past year following its takeover of the US arm of collapsed wall Street giant Lehman Brothers.

The admission has raised concerns about growth rates at Bar-Cap, which has become the group's main engine for growth and accounted for nearly 90pc of profits in the first half.

News of the secret briefings came as the Middle eastern investor who masterminded a £7bn rescue package for Barclays in 2008 locked in a further £750m gain from the deal.

In a complex transaction, Manchester City owner Sheikh Mansour bin Zayed al-Nayhan has excercised his right to buy a further 132m Barclays shares at 197.7 each, lifting his stake to 6.2pc.

he has also taken out a form of insurance contract with Japanese bank Nomura, which will shield him from losses should the Barclays share price fall from current levels.

The hedging deal saw Nomura sell some 220m shares in the market, sending the Barlcays stock price tumbling 6.8p to 297.25.

After a £1.5bn share sale last year, Sheikh Mansour has now made a profit of more than £2.2bn for helping Barclays avoid a taxpayer bailout at the height of the financial crisis in 2008.

Sept 08 Sheikh Mansour buys Manchester City for £220m

Oct 08 Stumps up half of Gulf £7bn rescue package for Barclays

July 09 Sells 1.3bn Barclays shares, netting £1.5bn profit

Oct 10 Books further £750m profit through share deal



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[vpatel25] 14/10/2010 15:44

Banks remained under pressure after Standard Chartered surprised the market yesterday by launching a £3.3bn investor cash-call. This raised fears that other banks will follow suit, meaning Barclays fell 7.4p to 284.6p, Royal Bank of Scotland dropped 1.3p to 46.2p and Lloyds Banking Group eased 1p to 71.6p.

A note by JP Morgan said HSBC was the best positioned among the UK banks to deal with new capital requirements, but shares still fell 3.5p to 667.6p.

[grahamite2] 14/10/2010 15:40

I very nearly bought BAC yesterday, so I suppose I've had a good day today even though I haven't placed a trade!

[b1gman2] 14/10/2010 15:34

So, where do we go tomorrow - looks like down to me?

[isis] 14/10/2010 15:34

US Banks down around 4-5%

Follow the Leader.

[bobp] 14/10/2010 15:29

and close.. no buys or sells today for me

[bobp] 14/10/2010 15:28

i knew it, buys coming in..

[bobp] 14/10/2010 15:27

279 buy order on incase we get a drop.. aagh! the stress of it all! :-)

[b1gman2] 14/10/2010 15:24

Barc ADR's down 3% in USA too.

[grahamite2] 14/10/2010 15:20

This is the time when, if you're on the wrong side, 10 minutes seems like 10 hours!

[bobp] 14/10/2010 15:18

weak as gnats pee again..

[isis] 14/10/2010 15:11

The US are always in a permanent state of election - I stopped bothering with them long ago. They sure know how to bore the Granny out of the World.

[b1gman2] 14/10/2010 15:09

BobP - yeah - i think I saw what I wished for, not the facts, 20 minutes to go though!

[bobp] 14/10/2010 15:03

biggy, that was more like a jolt than a bounce

[maximillian1] 14/10/2010 14:59

Do not all forget the mid term elections are only 3 weeks away..

[b1gman2] 14/10/2010 14:52

I have to admit we're looking more towards 260 than 300 short term, but I'm still convinced we'll see 380 by Feb 11.
Having said that, is a bounce just about to start.....I can see it....

[bobp] 14/10/2010 14:50

Yes I saw the L2, bit worrying but can't blame them

I ran a 278 buy just now and again bottled it looking at the charts etc

I'm like you in total cash at the moment.

I really am concerned about the ftse100 index. 5200 ok, but not at these levels

[grahamite2] 14/10/2010 14:45

No positions of any kind, BobP. Not inclined to buy Barclays for a bounce today - L2 a few minutes ago was shocking, huge buy orders placed and taken out almost immediately. Could be one of those days when it's down right to the close.

[smurfy2001] 14/10/2010 14:43

Even QE2 won't pump this dog of a share.

Terrible...

[bobp] 14/10/2010 14:41

G2, the problem is news behing barc always seems to be 'known' by the big players and we plebs find out to our cost or otherwise after the event. ie, after 4.30pm

If this is down on flotsham news then it should be ripe for a bounce

The problem is the index is too high and a correction there will move us down again

good to hear from you by the way. You holding? I'm not at the mo but will once the planets line up

[wenlynn] 14/10/2010 14:37

Well done Monty.

montyhedge - 22 Sep'10 - 15:24 - 61677 of 62617
255p is my target.

[grahamite2] 14/10/2010 14:36

I don't think this is just rights issue fears. US banks are taking a hell of a pounding over the mortgage/foreclosure issue so US investors are perhaps just selling all banks.

If I'm right, this is even more daft than the rights issue rumours.

Another possibility though is that banks seem to have one problem after another after another and investors are sick of them.