Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. Company operates in over 60 countries and employs over 78,000 people.

            Red = 25 day moving average.           Green = 200 day moving average.

WEe thought that when they were 4!

It is not cheap with the article below today...



Barclays looks to Asia to raise 4bn - John Waples


BRITISH banking giant Barclays is close to raising 4 billion in a placing with some of the worlds biggest sovereign wealth funds.

The move is the latest in a series of capital raisings around the world by banks that have been hit hard by the credit crisis. Marcus Agius, the banks chairman, and his chief executive John Varley are expected to come under pressure tomorrow to clarify the fundraising in a stock-exchange statement.

The confirmation will put an end to the uncertainty surrounding the bank while the City has waited for details of how it will raise new capital.

The placing, to be completed within a fortnight, will involve issuing new shares to investors at a premium to Fridays closing price of 318p. This valued the bank at 20.9 billion.

hlyeo98 - tks. That's great news especially as the new shares will be at a premium. This should establish a floor for BARC shares and hopefully up and up from there.

Sounds good to me.

personally, i thought the article pretty good news and am happy to have bought at not too much above the current depresed level

yes looks good news. Be interesting to see what the premium is.

BARCLAYS PLC

16 June 2008

Response to press comment and trading update

Barclays notes recent speculation regarding the possible issuance of new equity by Barclays by way of a placing and pre-emptive offer to existing shareholders. The Board of Barclays confirms this is currently under active consideration. A further announcement will be made in the event that the Board of Barclays decides to pursue such an equity issuance.

In respect of current trading, Barclays Group profit before tax in May was well ahead of the monthly run rate for 2007. Relative to May 2007, Global Retail and Commercial Banking continued to deliver strong growth in profits and in Investment Banking and Investment Management profits were in line.

Excellent news from BARC this morning. UP UP UP UP today. (I hope!!).

good start to the day .... +24

Very good.

could be some very singed and squeezed bears today/tomorrow, but keep an eye on that 25 dma at about 370 ..... may prove something of a resistance, though if the wind is in the sails, may prove to be no more so thatn it was a support on the way south.

At least we finished BLUE today. Let's hope we see more blue tomorrow. With details of funding out within a fortnight and Interim Results on 7th August I'm hoping to see BARC in the 400/500 range within 3 months.

A good start to the day.:)

apparently 355 should have been a support, but sp crashed throuight that without second thoughts ..... however, will it prove a resistance now that sp is heading north? ...... shall watch very carefully and may take a profit on that part of my holding that i bought at 327

Great to see another BLUE close.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/18/cxmktrep118.xml

and so it proved (post 132), so glad i followed my own advice and sold some (at 349), but if sp continues to slip may look to buy these back again at say +/-325

so i did at 327.75

Brave call, especially if you aren't able to watch constantly.
Are you setting a limit sell on?

nope ..... BARC are not going belly up and i reckon whatever fundraising they need or decide to do is already discounted .... obvioulsy, if markets/finacials collapse anew, BARC will not be immune.

safer here than in mini minnow blue sky E&P companies