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.

u will have a fair wait to see 356p again.....the trend is down...and market is crap right now and is likely to remain this summer unfortunately

maybe ...... i suspect that when the wheat is sorted from the chaff, the likes of BARC will come out pretty well

Bought@308 this will move up over the next few weeks.

Fraud in Barclays Bank jeopardises fundraising efforts...


A SENIOR member of the Qatari royal family has thrown Barclays fundraising efforts into jeopardy after raising legal claims against the bank over an alleged 50m (40m) fraud.

The billionaire sheikh, a member of Qatars ruling Al Thani family, claims that gross negligence by Barclays allowed an employee to siphon off sums of about 4m a month from a personal account in Marbella.

The allegations, which relate to transactions that took place between December 2001 and February 2003, are detailed in documents filed in a Spanish court.

Although there have been several failed attempts to settle the claim, the sheikh is expected to increase pressure on Barclays after revelations that the Qatar Investment Authority is supporting the banks 4 billion cash call.

The QIA, run by another member of the Al Thani clan, is one of four overseas investment groups that have been lined up to support a 4 billion fundraising by the bank. China Development Bank, Temasek of Singapore and the Japanese financial giant Sumitomo Mitsui Financial Group are also expected to provide funding.

The sheikhs allegations have emerged just days before Barclays is due to begin marketing the fundraising to its existing UK shareholders.

It is understood that the QIA is not yet aware of the alleged fraud, which has, until now, been a private matter between the bank and the particular family member.

The allegations form the basis of a criminal investigation in Spain, as well as a possible civil suit for damages.

The sheikh claims that a former trusted employee, Gerald Gouallier, set up a bank account at Barclays Marbella branch through fraudulent means.

The account was set up as a joint account under both the sheikh and Goualliers names. However, the sheikh alleges that documents signed to open the account were forged, and that he had no knowledge of its existence.

The bank also failed to demand any proof of identity or to conduct a face-to-face document-signing process, the sheikh alleges.

The sheikh had a second, legimitate account with the Barclays branch in Marbella, which had a similar account number. Gouallier, who was trusted to handle cash transfers between bank accounts around the world on behalf of the sheikh, juggled sums between the two Marbella accounts.

A total of 29m in cash was withdrawn, while a further 20m was transferred to other bank accounts before the alleged fraud became apparent to the sheikh. Over one four-day spell, 2.5m in cash was withdrawn from the account.

The sheikh claims that he is still owed about 42m.

Barclays declined to comment on the case.

Probably about a week's pay for him

Just another journo in search of a story. Am somewhat surprised the editor bothered to print it, but then he will probably be looking for a job soon after missing so many major financial scoops.

am sure the underlying tory is true, but smells strongly of a spoiling tactic as i am sure i saw a comment that the sheikh also needed to x-sign cheques ..... all in all, doesn't sound the strongest of cases against BARC, even if there is a better one against the other scally

expect barc to fall again this week.....trend is down too

indeed it is

down again today even when market is up.......u r well down on this after a week cynic with u buying at 327p

250p max target

I agree 250p is acert.

barclays is a pish bank too

nearing 300p now

I agree they are the Kwiksave of banks if that is possible.

Current analyst consensus is 'hold' with a target of 424p, issued today.

big deal.......yell had broker forecast at 350p in march...its now 81p!

analyst.....who are they? name and shame them......probably some corrupt git anyway

talking of corruption, barclays has been pointed a fair bit for several years of that too! plus qatari news yesterday doesnt help

if it goes to 2, i might be tempted to buy though

'some corrupt git' !!!! We are talking about England's sharpest, analytical financial minds! :o)
Interesting that their target on the 18th was 300p, which presumably means that they see 300p as being a solid support level.

.

englands sharpest mind, lol.......that shouldnt take much these days such has been the freefall demise of that once respected nation. more than 5 million brits now live abroad and i bet they r the better ones.

and u still aint mentioned his name.....or shown that he aint corrupt.

The 300p was by Dresdner Kleinwort on the 18 Jun '08.
424p was a consensus of 25 analysts on Selftrade, 23rd Jun '08, comprising 6 buy, 2 o/w, 11 hold, 2 u/w, 4 sell. No names I'm afraid. Perhaps they weren't confident enough to be identified!