Things Are Better At Barclays But Still Not Back To 'Normal'
Thu, Jul. 21, 5:34 PM
Tue, Jul. 12, 9:24 AM
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Wed, Jul. 6, 11:10 AM
- Cashing out of stocks in one thing, but unloading that office building or shopping mall by the close of business is a different story. Henderson Global Investors suspends dealings in its £3.9B U.K. property fund, becoming the fourth such outfit to do so this week.
- The FTSE 100 (NYSEARCA:EWU) is lower by 1.45% ahead of the close, outperforming Europe once again, where most major markets are down 2% or more.
- That's in nominal terms, of course. The British pound (NYSEARCA:FXB) has taken out new three-plus decade lows, now down 1% vs. the dollar at $1.2892.
- Faring worst in the U.K. are the banks. RBS (RBS -7.7%), Lloyds (LYG -8.9%), Barclays (BCS -3.6%), HSBC (HSBC -1%).
Mon, Jun. 27, 1:00 PM
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Mon, Jun. 27, 9:44 AM
- Amid more gut-wrenching losses for U.K. banks, HSBC is outperforming by a mile with just a 4.5% decline today. Liking HSBC's "defensive" nature post-Brexit, JPMorgan's Kian Abouhossein upgrades to Neutral from Underweight.
- Alongside, he downgrades Lloyds (LYG -15.6%) and Barclays (BCS -20.5%) to Neutral from Overweight, and RBS (RBS -13.4%) to Underweight from Neutral.
- At issue for all U.K. banks, he says, is the likelihood the Bank of England cuts its benchmark rate to zero, further pressuring net interest margins.
Mon, Jun. 27, 9:13 AM
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- Gainers: AAU +20%. VGZ +18%. MUX +13%. AKG +12%. GPL +13%. GORO +12%. GFI +12%. EMES +12%. GOLD +12%. AU +12%. SBGL +11%. EXK +11%. KGC +10%. HMY +11%. SAND +10%. ABX +10%. EGO +9%. SA +7%. IAG +9%. AUY +9%. CDE 9%. NGD 9%. AEM 8%. NEM 8%. GG 8%. NG 8%. FSM 7%.
- Losers: LYG -27%. BCS -26%. SAN -24%. RBS -23%. AV -23%. BBVA -22%. DB -18%. ING -18%. BT -18%. VNR -11%. TEF -17%. CS -16%. PUK -15%. MT -15%. AEG -14%. RYAAY -13%. UBS -12%. FCAU -12%. GNCA -12%. NOK -12%. BBL -11%. IPI -11%. TOT -11%. ANFI -11%. MNKD -10%. BCEI -8%. VMEM -10%.
Mon, Jun. 20, 1:00 PM
Mon, Jun. 20, 11:02 AM
- Punished worse than most in the run-up to the Brexit referendum have been the British banks as London's financial center status is seen as highly vulnerable in the event the "leave" camp prevails.
- A weekend poll showing a sizable shift back to the "remain" camp has the FTSE 100 higher by 4.15%, with Barclays (BCS +7.9%), RBS (RBS +8%), and Lloyds (LYG +9.3%) leading the way. HSBC's (HSBC +3.5%) gain in more inline with the major average.
Mon, Jun. 20, 9:16 AM
Tue, Jun. 14, 7:42 AM
- The Bank of England is offering the country's lenders extra liquidity to help them get through any volatility surrounding next week's Brexit vote. Banks today tapped the central bank for £2.46 of that cash.
- While that amount at repo auctions isn't unusual (they're held every month), the BoE is offering an extra three auctions in June - two before the vote and one after.
- The stock prices of British banks have been under heavy pressure ahead of the vote, and most are lower again today. In London trade: Barclays (NYSE:BCS) -2.9%, RBS -1.7%, Lloyds (NYSE:LYG) -1.9%, HSBC -1.15%.
- The FTSE 100 is down 1.2%, and the pound (NYSEARCA:FXB) is off 1% vs. the dollar.
- ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU
Wed, May 18, 10:31 AM
- A new poll shows the "remain" camp gaining strength, with an 18 percentage point lead roughly one month ahead of the Brexit referendum.
- The pound's higher by 0.9%, and the FTSE lower by 0.15%. Outperforming by a mile are the banks: Barclays (BCS +5.3%), RBS (RBS +6%), HSBC (HSBC +1.6%), Lloyds (LYG +4.6%).
Barclays Plc operates as a bank holding company that engages in the business of providing retail banking, credit cards, corporate and investment banking and wealth management services in Europe, the Americas, Africa and Asia. The company operates in nine segments: UK Retail & Business Banking,... More
Industry: Foreign Money Center Banks
Country: United Kingdom
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