BARCLAYS for ever
- Creatore Discussione shark2007
- Data di inizio
Pensate che le azioni Barclays arrivino ad un target di acquisto verso 55 p
per questa settimana ?!!!!!!!
Direi che non c'è voluto molto per raggiungere la quota
.Ma non capisco, c'è davvero il rischio anche per Barclays di essere nazionalizzata? E se sì sarà una nazionalizzazione in che senso? Voglio dire le azioni le butteremo nel cesso?
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shark2007
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Aggiornamento banche inglesi
Tradinglab - 21.01.2009 ore 11:46
Ennesima seduta difficile per Barclays, scesa durante la mattinata ai minimi di 24 anni, depressa dalle preoccupazioni degli investitori per una possibile nazionalizzazione o per la necessità di ottenere finanziamenti. Alle 11:35 il titolo cede oltre il 21% a GBp57,50. Lloyds, che secondo gli operatori corre un rischio maggiore della rivale di essere nazionalizzata e ha già una quota del 43% in mano al governo inglese, perde oltre l’11% a GBp39,60.
Oggi intanto il presidente della commissione del Tesoro del parlamento inglese ha esortato il governo a nazionalizzare sia Royal Bank of Scotland sia Lloyds.
Barclays ha finora evitato di vendere al governo una quota, ma gli analisti affermano che sarà la prossima in lista se le rivali dovessero cadere nelle mani dello stato. Venerdì scorso Barclays aveva annunciato che i profitti nel 2008 sarebbero stati sopra i GBP5,3 mld anche dopo le svalutazioni, ma non è riuscita a rassicurare gli investitori sulla solidità del suo capitale.
Tradinglab - 21.01.2009 ore 11:46
Ennesima seduta difficile per Barclays, scesa durante la mattinata ai minimi di 24 anni, depressa dalle preoccupazioni degli investitori per una possibile nazionalizzazione o per la necessità di ottenere finanziamenti. Alle 11:35 il titolo cede oltre il 21% a GBp57,50. Lloyds, che secondo gli operatori corre un rischio maggiore della rivale di essere nazionalizzata e ha già una quota del 43% in mano al governo inglese, perde oltre l’11% a GBp39,60.
Oggi intanto il presidente della commissione del Tesoro del parlamento inglese ha esortato il governo a nazionalizzare sia Royal Bank of Scotland sia Lloyds.
Barclays ha finora evitato di vendere al governo una quota, ma gli analisti affermano che sarà la prossima in lista se le rivali dovessero cadere nelle mani dello stato. Venerdì scorso Barclays aveva annunciato che i profitti nel 2008 sarebbero stati sopra i GBP5,3 mld anche dopo le svalutazioni, ma non è riuscita a rassicurare gli investitori sulla solidità del suo capitale.
shark2007
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Barclays Falls Seventh Day on Nationalization Concern
Last Updated: January 21, 2009 08:14 EST
By Jon Menon
Jan. 21 (Bloomberg) -- Barclays Plc, the U.K. bank that turned down government funding last year, declined for a seventh straight day in London trading on speculation that it may be forced to take more writedowns and be nationalized.
Barclays fell as much as 35 percent, the biggest drop in at least two decades, and was down 20 percent at 58.3 pence as of 12:30 p.m. The shares have lost 62 percent this month, valuing the company at 4.9 billion pounds ($6.5 billion). London-based Lloyds Banking Group Plc fell as much as 26 percent today.
“There is genuine fear from shareholders, who see a real risk of nationalization,” said Simon Maughan, an analyst at MF Global Securities Ltd. who has a “sell” rating on Barclays. “The whole rest of the world, operating in the same business as Barclays, has seen significant losses. There is talk that Barclays will bring its results forward to prove its case. Bring it on.”
Barclays said Jan. 16 its pretax profit will beat the average analyst estimate of 5.3 billion pounds. The London-based bank said it had a net credit writedowns of 2.1 billion pounds for the first nine months of 2008 and opted out of the U.K.’s 50 billion-pound plan to recapitalize banks. Edinburgh-based Royal Bank of Scotland Group Plc forecast a 2008 loss of 28 billion pounds on Jan. 19 as the government said it would increase its stake to 70 percent.
Barclays is scheduled to post year-end earnings on Feb. 17, spokesman Alistair Smith said. He declined to comment further.
Asset Guarantees
The U.K. government announced plans Jan. 19 to guarantee toxic assets for a fee and gave the Bank of England power to buy 50 billion pounds of securities in the second effort in three months to underpin confidence in the banking system.
“There is clearly a residual uncertainty about the future sustainability of the banks, but my view is that it’s becoming a feeding frenzy, taking turns to bash banks without properly acknowledging the policy responses” of the government, said Robert Talbut, who helps manage $31 billion including Barclays stock at Royal London Asset Management. “Further nationalization wouldn’t be in the national interest.”
Barclays, which acquired Lehman Brothers Holdings Inc.’s North American investment-banking operations last year, raised 7 billion pounds in November, mainly from funds in Qatar and Abu Dhabi. It has cut more than 4,500 jobs this year from its Barclays Capital investment-banking unit, investment-management and wealth units and retail and commercial banking operations.
‘Crisis on Confidence’
“There’s some disquiet as to the fact that their writedown procedure is not the same as other banks that you would have thought are exposed to the same risks,” said Dave Bradbury, who helps manage $6 billion at Canada Life Ltd. in London. “There’s a crisis of confidence” in the banking sector, he added. “It’s a bleak outlook.”
Lloyds Banking, which completed the takeover of HBOS Plc this week, also is seeking to avoid further government control. It won’t take up the government’s offer to convert 4 billion pounds of preferred stock to common stock, Lloyds Chairman Victor Blank said Jan. 19. Swapping the shares, which would eliminate dividends payouts of 12 percent a year to the government, would increase the U.K.’s 43 percent stake in Lloyds.
Lloyds was down 14 percent at 38.4 pence at 12:45 p.m. in London, bringing this month’s loss to 69 percent and valuing the bank at 6.4 billion pounds.
Lloyds and Barclays led a jump today in the cost of protecting bank debt from default to the highest in six weeks. Credit-default swaps on London-based Lloyds climbed 12.5 basis points to 137.5, and Barclays rose 7 to 205, the highest in more than three months, according to CMA Datavision prices at 11:30 a.m. in London. Contracts on the benchmark Markit iTraxx Financial index of 25 European banks and insurers increased 7 to 131, JPMorgan Chase & Co. prices show.
Investors are speculating the banks hold similar distressed securities to those that forced the U.K. government to take a 70 percent stake in RBS. Bailouts are increasing around the world, with President Barack Obama’s economic team pushing to complete a bank-rescue plan that can be twinned with an $825 billion stimulus package.
Secondo alcuni il Governo Britannico è intenzionato a nazionalizzare le 3 principali banche inglesi ... secondo altri questa strategia non rientra nelle sue intenzioni ...
Probabilmente se le perdite trimestrali dovessero ripetersi ed essere di entità rilevante ... la situazione potrebbe precipitare ...
Last Updated: January 21, 2009 08:14 EST
By Jon Menon
Jan. 21 (Bloomberg) -- Barclays Plc, the U.K. bank that turned down government funding last year, declined for a seventh straight day in London trading on speculation that it may be forced to take more writedowns and be nationalized.
Barclays fell as much as 35 percent, the biggest drop in at least two decades, and was down 20 percent at 58.3 pence as of 12:30 p.m. The shares have lost 62 percent this month, valuing the company at 4.9 billion pounds ($6.5 billion). London-based Lloyds Banking Group Plc fell as much as 26 percent today.
“There is genuine fear from shareholders, who see a real risk of nationalization,” said Simon Maughan, an analyst at MF Global Securities Ltd. who has a “sell” rating on Barclays. “The whole rest of the world, operating in the same business as Barclays, has seen significant losses. There is talk that Barclays will bring its results forward to prove its case. Bring it on.”
Barclays said Jan. 16 its pretax profit will beat the average analyst estimate of 5.3 billion pounds. The London-based bank said it had a net credit writedowns of 2.1 billion pounds for the first nine months of 2008 and opted out of the U.K.’s 50 billion-pound plan to recapitalize banks. Edinburgh-based Royal Bank of Scotland Group Plc forecast a 2008 loss of 28 billion pounds on Jan. 19 as the government said it would increase its stake to 70 percent.
Barclays is scheduled to post year-end earnings on Feb. 17, spokesman Alistair Smith said. He declined to comment further.
Asset Guarantees
The U.K. government announced plans Jan. 19 to guarantee toxic assets for a fee and gave the Bank of England power to buy 50 billion pounds of securities in the second effort in three months to underpin confidence in the banking system.
“There is clearly a residual uncertainty about the future sustainability of the banks, but my view is that it’s becoming a feeding frenzy, taking turns to bash banks without properly acknowledging the policy responses” of the government, said Robert Talbut, who helps manage $31 billion including Barclays stock at Royal London Asset Management. “Further nationalization wouldn’t be in the national interest.”
Barclays, which acquired Lehman Brothers Holdings Inc.’s North American investment-banking operations last year, raised 7 billion pounds in November, mainly from funds in Qatar and Abu Dhabi. It has cut more than 4,500 jobs this year from its Barclays Capital investment-banking unit, investment-management and wealth units and retail and commercial banking operations.
‘Crisis on Confidence’
“There’s some disquiet as to the fact that their writedown procedure is not the same as other banks that you would have thought are exposed to the same risks,” said Dave Bradbury, who helps manage $6 billion at Canada Life Ltd. in London. “There’s a crisis of confidence” in the banking sector, he added. “It’s a bleak outlook.”
Lloyds Banking, which completed the takeover of HBOS Plc this week, also is seeking to avoid further government control. It won’t take up the government’s offer to convert 4 billion pounds of preferred stock to common stock, Lloyds Chairman Victor Blank said Jan. 19. Swapping the shares, which would eliminate dividends payouts of 12 percent a year to the government, would increase the U.K.’s 43 percent stake in Lloyds.
Lloyds was down 14 percent at 38.4 pence at 12:45 p.m. in London, bringing this month’s loss to 69 percent and valuing the bank at 6.4 billion pounds.
Lloyds and Barclays led a jump today in the cost of protecting bank debt from default to the highest in six weeks. Credit-default swaps on London-based Lloyds climbed 12.5 basis points to 137.5, and Barclays rose 7 to 205, the highest in more than three months, according to CMA Datavision prices at 11:30 a.m. in London. Contracts on the benchmark Markit iTraxx Financial index of 25 European banks and insurers increased 7 to 131, JPMorgan Chase & Co. prices show.
Investors are speculating the banks hold similar distressed securities to those that forced the U.K. government to take a 70 percent stake in RBS. Bailouts are increasing around the world, with President Barack Obama’s economic team pushing to complete a bank-rescue plan that can be twinned with an $825 billion stimulus package.
Secondo alcuni il Governo Britannico è intenzionato a nazionalizzare le 3 principali banche inglesi ... secondo altri questa strategia non rientra nelle sue intenzioni ...
Probabilmente se le perdite trimestrali dovessero ripetersi ed essere di entità rilevante ... la situazione potrebbe precipitare ...
shark2007
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22.01.2009 - MILANO (Finanza.com)
Un’altra giornata al cardiopalma per le banche inglesi al centro di massicce vendite e successivi riacquisti con oscillazioni fortissime. Ieri è stato il turno di Barclays. Il titolo è crollato a meno 33% per poi rimbalzare fino a meno 9,33per cento. Montagne russe anche per Llyods group che dopo aver perduto quasi un terzo del valore, in chiusura, è riuscito a spuntare un più 0,67%. Buona invece la giornata di Royal Bank of Scotland che è sempre stata in territorio positivo fissando un prezzo finale il 21% superiore a quello di apertura. Positivo anche il titolo Hsbc, che ha chiuso in crescita di oltre il 6 per cento.
Oscillazioni che confermano l’instabilità del mercato e che hanno spinto la Fsa, l’autorità di controllo sul mondo finanziario britannico, a reiterare una minaccia già pronunciata.
In altre parole da quando a Londra è stato rimosso il divieto di shortare le Società finanziarie ... la speculazione ribassista si è scatenata ... probabilmente praticando il famigerato "naked short selling" ...
Allora la Consob inglese ha ventilato la minaccia di ripristinare il divieto scaduto il 20.01.2009 ...
Cmq, non si può andare avanti in questo modo approssimativo e bislacco ... bisogna davvero riscrivere le regole ...
Un’altra giornata al cardiopalma per le banche inglesi al centro di massicce vendite e successivi riacquisti con oscillazioni fortissime. Ieri è stato il turno di Barclays. Il titolo è crollato a meno 33% per poi rimbalzare fino a meno 9,33per cento. Montagne russe anche per Llyods group che dopo aver perduto quasi un terzo del valore, in chiusura, è riuscito a spuntare un più 0,67%. Buona invece la giornata di Royal Bank of Scotland che è sempre stata in territorio positivo fissando un prezzo finale il 21% superiore a quello di apertura. Positivo anche il titolo Hsbc, che ha chiuso in crescita di oltre il 6 per cento.
Oscillazioni che confermano l’instabilità del mercato e che hanno spinto la Fsa, l’autorità di controllo sul mondo finanziario britannico, a reiterare una minaccia già pronunciata.
In altre parole da quando a Londra è stato rimosso il divieto di shortare le Società finanziarie ... la speculazione ribassista si è scatenata ... probabilmente praticando il famigerato "naked short selling" ...
Allora la Consob inglese ha ventilato la minaccia di ripristinare il divieto scaduto il 20.01.2009 ...
Cmq, non si può andare avanti in questo modo approssimativo e bislacco ... bisogna davvero riscrivere le regole ...
shark2007
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Buzzi Unicem: quota Barclays a 5%
Dal 3, 303% dichiarato a novembre, lo annuncia Consob
(ANSA) - MILANO, 22 GEN - Il 16 gennaio i fondi Barclays sono saliti al 5,002%di Buzzi Unicem, rispetto al 3,303% dichiarato a novembre. E' quanto emerge dagli aggiornamenti Consob sulle partecipazioni rilevanti. La quota in gestione del risparmio e' posseduta indirettamente da Barclays global investors Uk holdings ltd, per lo piu' tramite Barclays global investors na (3,296%) e Barclays global investors ltd (1,656%).
Barclays è così in crisi di liquidità che chissà come trova anche il denaro per aumentare le sue molteplici partecipazioni azionarie ...
Di questi tempi sciagurati la speculazione ribassista è veramente un inutile quanto dannoso flagello ...!
Dal 3, 303% dichiarato a novembre, lo annuncia Consob
(ANSA) - MILANO, 22 GEN - Il 16 gennaio i fondi Barclays sono saliti al 5,002%di Buzzi Unicem, rispetto al 3,303% dichiarato a novembre. E' quanto emerge dagli aggiornamenti Consob sulle partecipazioni rilevanti. La quota in gestione del risparmio e' posseduta indirettamente da Barclays global investors Uk holdings ltd, per lo piu' tramite Barclays global investors na (3,296%) e Barclays global investors ltd (1,656%).
Barclays è così in crisi di liquidità che chissà come trova anche il denaro per aumentare le sue molteplici partecipazioni azionarie ...
Di questi tempi sciagurati la speculazione ribassista è veramente un inutile quanto dannoso flagello ...!
shark2007
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26.01.2009 - MILANO (Finanza.com)
Barclays prevede di riportare per il 2008 un utile pre-tasse superiore alle stime di consensus poste a 5,3 miliardi di sterline. Lo rende noto l'istituto in una lettera aperta a dipendenti, clienti e azionisti pubblicata sul sito internet del gruppo. Il gruppo, definito nella lettera ben capitalizzato, non prevede la necessità di ulteriori misure di ricapitalizzazione. I risultati definitivi saranno resi noti il prossimo 9 febbraio.
Almeno questa banca inglese dovrebbe essere definitivamente fuori pericolo ...
Barclays prevede di riportare per il 2008 un utile pre-tasse superiore alle stime di consensus poste a 5,3 miliardi di sterline. Lo rende noto l'istituto in una lettera aperta a dipendenti, clienti e azionisti pubblicata sul sito internet del gruppo. Il gruppo, definito nella lettera ben capitalizzato, non prevede la necessità di ulteriori misure di ricapitalizzazione. I risultati definitivi saranno resi noti il prossimo 9 febbraio.
Almeno questa banca inglese dovrebbe essere definitivamente fuori pericolo ...
ciortyk
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più fuoco vedo, meno mi scaldo.... non voglio gufare, ma per me nei prossimi giorni, qualcuno piangerà...
azz in 2 giorni ha fatto +100% !!!
shark2007
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Barclays Profit Exceeds Estimates; Lehman Off to ‘Strong Start’
Last Updated: February 9, 2009 07:18 EST
By Jon Menon and Kevin Crowley
Feb. 9 (Bloomberg) -- Barclays Plc reported second-half profit that exceeded analysts’ estimates, and President Robert Diamond said the investment bank had an “extremely strong” start to 2009 after buying Lehman Brothers Holdings Inc. assets.
Barclays, the third-biggest U.K. bank by assets, rose as much as 12 percent in London trading after saying writedowns this year will be less than last year’s 8.1 billion pounds. Net income jumped to 2.66 billion pounds ($3.9 billion), or 31.3 pence a share, in the six months ended Dec. 31, up 49 percent from the year-earlier period, according to Bloomberg calculations based on full-year results posted today.
“There’s a bank that’s alive and well underneath all this concern about structured credit,” said Michael Trippitt, a London-based analyst at Oriel Securities Ltd., who has an “add” rating on Barclays.
Barclays reported results more than a week ahead of schedule as Chief Executive Officer John Varley tried to head off speculation about credit-market losses that clipped 32 percent off the company’s stock price this year.
Barclays cancelled its final dividend for 2008 and plans to resume payments in the second half.
Earnings were boosted by a tax- related gain of 2.26 billion pounds from the purchase of the North American investment banking assets of Lehman Brothers.
“We have nothing to hide,” Diamond, 57, said in an interview today. Barclays sold 9.3 billion pounds of assets at the same value marked on the books,the “best proof” that thebank’s markdowns are accurate, he said. “There’s no reason for people to be worried.”
‘Universal Bank’
Barclays has repeatedly denied that it lacks capital and declined to accept money from the U.K.’s 50 billion-pound bailout fund to avoid accompanying lending requirements. Barclays, which acquired the North American assets of bankrupt Lehman Brothers in September for $1.75 billion, aims to grow its U.S. investment bank and consumer businesses outside Britain.
“The goal remains to be one of the leading universal banks in the world,” Varley told analysts on a conference call. “Diversification is a strategic priority.”
Barclays’s second-half profit beat the mean estimate of 2.05 billion pounds from 12 analysts surveyed by Bloomberg. Pretax profit at the Barclays Capital fell 44 percent to 1.3 billion pounds in 2008, and dropped 19 percent to 595 million pounds at Barclays Global Investors asset-management unit, the bank said. Profit at the U.K. retail bank rose 7 percent to 1.4 billion pounds, and increased 31 percent to 789 million pounds at the credit card unit, Barclaycard.
One-Time Gains
Barclays took gains of 1.7 billion pounds on the rising yields and falling market value of its own bonds, meaning it could buy back its debt for less than before. It also had gains of 326 million pounds on the sale of a life insurance unit and 291 million pounds from the sale of stock in Mastercard and Visa, the bank said.
Barclays’s profit comes down to “a lot of one-offs,” Simon Willis, a London-based analyst at NCB Stockbrokers Ltd., said in an interview. He has a “reduce” rating on the stock.
“These numbers do not alleviate my concerns,” said Florian Esterer, a senior portfolio manager at Zurich-based Swisscanto Asset Management AG, who oversees about $48 billion including Barclays shares. “The bottom line still looks like a mixed bag. It’s too early to say they’ve been vindicated.”
Strong Start
While 2008 profit fell, the investment bank had an “extremely strong” start to the year, Diamond said in an interview. “We have some optimism for 2009. We certainly have some concerns about the economy.”
The Lehman takeover helped to bolster fixed-income operations at the Barclays Capital investment bank as credit markets eased last month, Diamond said in an interview. Deutsche Bank AG said last week revenue rose “significantly” in January, while Bank of America Corp. Chief Executive Officer Kenneth Lewis also told employees in a Feb. 2 memo that January results were “encouraging” as credit market turmoil lessened.
Companies sold $146 billion of bonds in the U.S. last month, the most since May. High-yield, high-risk junk debt had the best start to a year since 2001. Barclays Capital also benefited from commodities, foreign exchange, equities and advisory revenue in 2008 and 2009, Diamond said.
Barclays was up 9 percent at 114.3 pence at 12:15 p.m. in London, valuing the bank at 9.6 billion pounds and reducing this year’s loss to 25 percent. Barclays declined 72 percent in nine days last month to a low of 51.2 pence on concerns that it might be nationalized.
Royal Bank of Scotland Group Plc climbed 5 percent to 25.2 pence. HSBC was down 2 percent at 538.5 pence, and Lloyds Banking Group Plc fell 1.8 percent to 103.1 pence.
Writedowns
Barclays took 5.6 billion pounds of writedowns for residential mortgages in 2008, including 1.9 billion pounds for Alt A and 1.7 billion pounds in for U.S. subprime losses. It also wrote down almost 1.5 billion pounds on commercial real estate and mortgages, and 980 million pounds on other credit- related assets.
RBS, the biggest U.K. bank taken over by the government because of toxic investments, said Jan. 19 it probably had a loss of about 28 billion pounds in 2008 after as much as 20 billion pounds of writedowns. Banks and financial-services firms worldwide had asset markdowns and credit losses of more than $1 trillion since the credit crunch started in 2007, forcing them to raise almost as much in capital, according to data compiled by Bloomberg.
RBS received 20 billion pounds from the U.K. government, which plans to increase its stake to 70 percent. London-based Lloyds Banking also got money from the government in exchange for a 43 percent holding.
Money From the Gulf
Barclays raised 5.2 billion pounds in October, selling a 32 percent stake to Abu Dhabi’s royal family and two Qatari investors. The company agreed to pay as much as 14 percent interest and give the Gulf investors a bigger share of the company if it sells additional stock before June 30.
Barclays reiterated that none of its executive directors will receive bonuses for 2008. Bonuses paid to employees declined by 48 percent, and payments at Barclays Capital and Barclays Global Investors down by 50 percent, Diamond said.
The company’s capital ratios are “well ahead of regulatory requirements,” Varley said. Equity Tier 1 capital is 6.7 percent, up from 5.1 percent a year earlier. This is sufficient to cushion “the current period of financial and economic stress,” today’s statement said.
“As long as they don’t need any more capital then you have to say that Barclays is looking very cheap,” said Alan Beaney, who helps manage $2 billion at Principal Investment Management in Sevenoaks, England. “What you are starting to see, and it takes a brave man to say it, is a bottom in the banks.”
‘Economic Sense’
For the full year, net income declined less than 1 percent to 4.38 billion pounds, or 57.5 pence a share, from 4.42 billion pounds, or 66.7 pence, in 2007, Barclays said. That beat analysts’ mean estimate of 3.8 billion pounds.
Barclays, which has taken steps to cut more than 4,500 jobs, is considering participating in the U.K government plan announced Jan. 19 to help insure toxic assets. Barclays will decide whether the government plan makes “economic sense” for the bank before it decides to proceed, said Varley “Most particularly of importance to us is the pricing,” said Varley.
Almeno questa banca inglese ... dovrebbe essere quasi fuori dal tunnel ...
Last Updated: February 9, 2009 07:18 EST
By Jon Menon and Kevin Crowley
Feb. 9 (Bloomberg) -- Barclays Plc reported second-half profit that exceeded analysts’ estimates, and President Robert Diamond said the investment bank had an “extremely strong” start to 2009 after buying Lehman Brothers Holdings Inc. assets.
Barclays, the third-biggest U.K. bank by assets, rose as much as 12 percent in London trading after saying writedowns this year will be less than last year’s 8.1 billion pounds. Net income jumped to 2.66 billion pounds ($3.9 billion), or 31.3 pence a share, in the six months ended Dec. 31, up 49 percent from the year-earlier period, according to Bloomberg calculations based on full-year results posted today.
“There’s a bank that’s alive and well underneath all this concern about structured credit,” said Michael Trippitt, a London-based analyst at Oriel Securities Ltd., who has an “add” rating on Barclays.
Barclays reported results more than a week ahead of schedule as Chief Executive Officer John Varley tried to head off speculation about credit-market losses that clipped 32 percent off the company’s stock price this year.
Barclays cancelled its final dividend for 2008 and plans to resume payments in the second half.
Earnings were boosted by a tax- related gain of 2.26 billion pounds from the purchase of the North American investment banking assets of Lehman Brothers.
“We have nothing to hide,” Diamond, 57, said in an interview today. Barclays sold 9.3 billion pounds of assets at the same value marked on the books,the “best proof” that thebank’s markdowns are accurate, he said. “There’s no reason for people to be worried.”
‘Universal Bank’
Barclays has repeatedly denied that it lacks capital and declined to accept money from the U.K.’s 50 billion-pound bailout fund to avoid accompanying lending requirements. Barclays, which acquired the North American assets of bankrupt Lehman Brothers in September for $1.75 billion, aims to grow its U.S. investment bank and consumer businesses outside Britain.
“The goal remains to be one of the leading universal banks in the world,” Varley told analysts on a conference call. “Diversification is a strategic priority.”
Barclays’s second-half profit beat the mean estimate of 2.05 billion pounds from 12 analysts surveyed by Bloomberg. Pretax profit at the Barclays Capital fell 44 percent to 1.3 billion pounds in 2008, and dropped 19 percent to 595 million pounds at Barclays Global Investors asset-management unit, the bank said. Profit at the U.K. retail bank rose 7 percent to 1.4 billion pounds, and increased 31 percent to 789 million pounds at the credit card unit, Barclaycard.
One-Time Gains
Barclays took gains of 1.7 billion pounds on the rising yields and falling market value of its own bonds, meaning it could buy back its debt for less than before. It also had gains of 326 million pounds on the sale of a life insurance unit and 291 million pounds from the sale of stock in Mastercard and Visa, the bank said.
Barclays’s profit comes down to “a lot of one-offs,” Simon Willis, a London-based analyst at NCB Stockbrokers Ltd., said in an interview. He has a “reduce” rating on the stock.
“These numbers do not alleviate my concerns,” said Florian Esterer, a senior portfolio manager at Zurich-based Swisscanto Asset Management AG, who oversees about $48 billion including Barclays shares. “The bottom line still looks like a mixed bag. It’s too early to say they’ve been vindicated.”
Strong Start
While 2008 profit fell, the investment bank had an “extremely strong” start to the year, Diamond said in an interview. “We have some optimism for 2009. We certainly have some concerns about the economy.”
The Lehman takeover helped to bolster fixed-income operations at the Barclays Capital investment bank as credit markets eased last month, Diamond said in an interview. Deutsche Bank AG said last week revenue rose “significantly” in January, while Bank of America Corp. Chief Executive Officer Kenneth Lewis also told employees in a Feb. 2 memo that January results were “encouraging” as credit market turmoil lessened.
Companies sold $146 billion of bonds in the U.S. last month, the most since May. High-yield, high-risk junk debt had the best start to a year since 2001. Barclays Capital also benefited from commodities, foreign exchange, equities and advisory revenue in 2008 and 2009, Diamond said.
Barclays was up 9 percent at 114.3 pence at 12:15 p.m. in London, valuing the bank at 9.6 billion pounds and reducing this year’s loss to 25 percent. Barclays declined 72 percent in nine days last month to a low of 51.2 pence on concerns that it might be nationalized.
Royal Bank of Scotland Group Plc climbed 5 percent to 25.2 pence. HSBC was down 2 percent at 538.5 pence, and Lloyds Banking Group Plc fell 1.8 percent to 103.1 pence.
Writedowns
Barclays took 5.6 billion pounds of writedowns for residential mortgages in 2008, including 1.9 billion pounds for Alt A and 1.7 billion pounds in for U.S. subprime losses. It also wrote down almost 1.5 billion pounds on commercial real estate and mortgages, and 980 million pounds on other credit- related assets.
RBS, the biggest U.K. bank taken over by the government because of toxic investments, said Jan. 19 it probably had a loss of about 28 billion pounds in 2008 after as much as 20 billion pounds of writedowns. Banks and financial-services firms worldwide had asset markdowns and credit losses of more than $1 trillion since the credit crunch started in 2007, forcing them to raise almost as much in capital, according to data compiled by Bloomberg.
RBS received 20 billion pounds from the U.K. government, which plans to increase its stake to 70 percent. London-based Lloyds Banking also got money from the government in exchange for a 43 percent holding.
Money From the Gulf
Barclays raised 5.2 billion pounds in October, selling a 32 percent stake to Abu Dhabi’s royal family and two Qatari investors. The company agreed to pay as much as 14 percent interest and give the Gulf investors a bigger share of the company if it sells additional stock before June 30.
Barclays reiterated that none of its executive directors will receive bonuses for 2008. Bonuses paid to employees declined by 48 percent, and payments at Barclays Capital and Barclays Global Investors down by 50 percent, Diamond said.
The company’s capital ratios are “well ahead of regulatory requirements,” Varley said. Equity Tier 1 capital is 6.7 percent, up from 5.1 percent a year earlier. This is sufficient to cushion “the current period of financial and economic stress,” today’s statement said.
“As long as they don’t need any more capital then you have to say that Barclays is looking very cheap,” said Alan Beaney, who helps manage $2 billion at Principal Investment Management in Sevenoaks, England. “What you are starting to see, and it takes a brave man to say it, is a bottom in the banks.”
‘Economic Sense’
For the full year, net income declined less than 1 percent to 4.38 billion pounds, or 57.5 pence a share, from 4.42 billion pounds, or 66.7 pence, in 2007, Barclays said. That beat analysts’ mean estimate of 3.8 billion pounds.
Barclays, which has taken steps to cut more than 4,500 jobs, is considering participating in the U.K government plan announced Jan. 19 to help insure toxic assets. Barclays will decide whether the government plan makes “economic sense” for the bank before it decides to proceed, said Varley “Most particularly of importance to us is the pricing,” said Varley.
Almeno questa banca inglese ... dovrebbe essere quasi fuori dal tunnel ...
shark2007
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16.02.2009 - MILANO (Finanza.com)
Gli analisti della casa svizzera, Ubs, hanno alzato il target price sulla banca inglese, Barclays, portandolo a 110 pence da precedenti 90 e confermato la raccomandazione neutral.
Il broker sostiene che l'istituto britannico potrebbe non rinunciare alla distribuzione della cedola nel corso del 2009 e prevede che il payout ratio potrebbe essere nell'ordine del 30 per cento.
Gli analisti della casa svizzera, Ubs, hanno alzato il target price sulla banca inglese, Barclays, portandolo a 110 pence da precedenti 90 e confermato la raccomandazione neutral.
Il broker sostiene che l'istituto britannico potrebbe non rinunciare alla distribuzione della cedola nel corso del 2009 e prevede che il payout ratio potrebbe essere nell'ordine del 30 per cento.
shark2007
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Buone news per Barclays
16.03.2009 - MILANO (Finanza.com)
Pioggia di acquisti oggi a Londra sul titolo Barclays che sale dell'11,07% a quota 82,3 pence.
Il titolo del colosso bancario britannico beneficia delle notizie rassicuranti arrivate oggi dalla banca che ha rimarcato come il 2009 sia iniziato al meglio.
Inoltre Barclays ha confermato di essere in trattative con il Tesoro riguardo a una partecipazione al piano pubblico di protezione degli attivi a rischio e inoltre l'istituto sta valutando la possibile vendita della divisione iShares che fa parte di Barclays Global Investors, divisione di asset management statunitense del gruppo finanziario inglese. Secondo quanto riportato dal Sunday Telegraph la banca sarebbe in trattativa con compagnie americane e fondi di private equity.
16.03.2009 - MILANO (Finanza.com)
Pioggia di acquisti oggi a Londra sul titolo Barclays che sale dell'11,07% a quota 82,3 pence.
Il titolo del colosso bancario britannico beneficia delle notizie rassicuranti arrivate oggi dalla banca che ha rimarcato come il 2009 sia iniziato al meglio.
Inoltre Barclays ha confermato di essere in trattative con il Tesoro riguardo a una partecipazione al piano pubblico di protezione degli attivi a rischio e inoltre l'istituto sta valutando la possibile vendita della divisione iShares che fa parte di Barclays Global Investors, divisione di asset management statunitense del gruppo finanziario inglese. Secondo quanto riportato dal Sunday Telegraph la banca sarebbe in trattativa con compagnie americane e fondi di private equity.
shark2007
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Barclays for ever
16.03.2009 - MILANO (Finanza.com) - Seduta in continua ascesa a Londra per Barclays. Il titolo del colosso finanziario britannico viaggia, a circa un'ora dalla chiusura delle contrattazioni, in testa al listino londinese con un balzo superiore al 22% a quota 90,6 pence. Barclays ha rimarcato come il 2009 sia iniziato al meglio e ha confermato di essere in trattative con il Tesoro riguardo a una partecipazione al piano pubblico di protezione degli attivi a rischio. Inoltre l'istituto sta valutando la possibile vendita della divisione iShares che fa parte di Barclays Global Investors, divisione di asset management statunitense del gruppo finanziario inglese. Secondo quanto riportato dal Sunday Telegraph la banca sarebbe in trattativa con compagnie americane e fondi di private equity.
16.03.2009 - MILANO (Finanza.com) - Seduta in continua ascesa a Londra per Barclays. Il titolo del colosso finanziario britannico viaggia, a circa un'ora dalla chiusura delle contrattazioni, in testa al listino londinese con un balzo superiore al 22% a quota 90,6 pence. Barclays ha rimarcato come il 2009 sia iniziato al meglio e ha confermato di essere in trattative con il Tesoro riguardo a una partecipazione al piano pubblico di protezione degli attivi a rischio. Inoltre l'istituto sta valutando la possibile vendita della divisione iShares che fa parte di Barclays Global Investors, divisione di asset management statunitense del gruppo finanziario inglese. Secondo quanto riportato dal Sunday Telegraph la banca sarebbe in trattativa con compagnie americane e fondi di private equity.