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.

much of the fall is readily attributable to the nil paid rights at 282 at 3:14

In my opinion, BARC will drop towards 250p soon.

totally AGREE hyleo....its crap bank too

250 is not impossible for whatever reason, but i would have thought it very likely that sp will be "managed" to keep it (well) above that level until the rights issue is fully away, albeit that it must surely be fully underwritten

cynic this is not a rights isue it is a placing of new shares offerred to existing and new shareholders all shares have been sold but existing shareholders may buy shares if they so wish otherwise they will be taken up by institutional shareholders already committed to the placing.

pretty well synonymous and still every reason for BARC to wish to keep sp (well) above the issue level ..... matter of face to the Qataris as much as anything else

Worked out ex issue price about 311p, so agree with cynic, much of fall based on this factor. Keeping an open mind about what sp does short term but I think there is a good chance that will be able to buy sub 300p post issue dust. Probably plenty of bad news to come in financial sector (i.e monolines etc). Some are surprised that Barc only wanted to raise 4bn+ and even then the board say that a significant amount will be used to invest as opposed to shore up. Quite happy to hold these longer term at these levels but, am holding fire for now before averaging down. sp 304p

Sensible shorters will be thinking of taking their profits before foreign investors start increasing their shareholdings.

Bought@294p wait for the upturn !!

My mate Scotty I dont want to wind up CynicI do enough of that as you know..but BARC down to 2 by Xmas punt or no punt.

barc will be down by end july or maybe august....certainly to 2.50, not sure about 2 quid

oh dear.....just when u think it cant get any worse!!

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/27/bcnbarc127.xml

9th worst tier 1 in whole of europe.......and they need many more billions

Oh dear.. oh dear Im shocked lets split the difference Scotty 2-25

Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero".

"We're in a nasty environment," said Tim Bond, the bank's chief equity strategist. "There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth."

Barclays Capital said in its closely-watched Global Outlook that US headline inflation would hit 5.5pc by August and the Fed will have to raise interest rates six times by the end of next year to prevent a wage-spiral. If it hesitates, the bond markets will take matters into their own hands. "This is the first test for central banks in 30 years and they have fluffed it. They have zero credibility, and the Fed is negative if that's possible. It has lost all credibility," said Mr Bond.

Mr Bond said the emerging world is now on the cusp of a serious crisis. "Inflation is out of control in Asia. Vietnam has already blown up. The policy response is to shoot the messenger, like the developed central banks in the late 1960s and 1970s," he said.

"They will have to slam on the brakes. There is going to be a deep global recession over the next three years as policy-makers try to get inflation back in the box."

Barclays Capital recommends outright "short" positions on Asian bonds, warning that yields could jump 200 to 300 basis points. The currencies of trade-deficit states like India should be sold. The US yield curve is likely to "steepen" with a vengeance, causing a bloodbath for bond holders.

David Woo, the bank's currency chief, said the Fed's policy of benign neglect towards the dollar had been stymied by oil, which is now eating deep into the country's standard of living. "The world has changed all of a sudden. The market is going to push the Fed into a tightening stance," he said.

Barclays' shares under pressure as Citi says it may need 9bn more


Barclays' 4.5bn fundraising falls about 9bn short of what is necessary to absorb credit-related writedowns and bring the bank's capital in line with European peers, Citigroup said.

The British bank's shares came in for more heavy selling after the note, dropping 2.4pc in early trading after yesterday's 8.5pc tumble.

Barclays Capital President Bob Diamond says the bank is in a strong position
Citigroup analysts said that simply moving Barclays' core tier one capital in line with its closest peer, Royal Bank of Scotland, would require an extra 2.5bn. If Barclays was to writedown its credit-related positions to the same degree as RBS the figure "increases to circa 9bn".

Barclays has taken just 1.7bn of writedowns this year, compared with 5.9bn at RBS, leading some to believe that it has not been sufficiently prudent in its assumptions.

prudent eh.....they should have got mr.brown as he says he has been prudent for last 10 years, lol

Barclays Bank is linked to Mugabe...LOL!


Barclays is flouting European Union sanctions on Zimbabwe by providing two of President Robert Mugabes most senior henchmen with bank accounts.

Both men are named on an EU blacklist that compels European-based financial institutions to freeze their bank accounts and have no dealings with them.

Barclays has been able to get around the sanctions by persuading the UK Treasury that the rules do not apply to its 67%-owned Zimbabwean subsidiary because it was incorporated outside the EU.

The two henchmen have been heavily involved in the regimes crackdown, which in effect fixed Fridays presidential election in favour of Mugabe. They are Elliot Manyika, minister without portfolio, who is a key figure in the recent violence, and Nicholas Goche, minister of public service, who is said to have masterminded attacks on white farmers.

well i did say about a week ago that barclays has been linked for many years to corruption! old cynic tried to ignore this as journo hogwash but i bet i'm proved right if authorities look into it.
as i say again, barclays is pish.

if above is true, then this shows the sickening low depths that barclays will go to

bad news like this will get this to 2 quicker

corruption? ....... oh, you mean like BAE and a stack of other international businesses? ....... how do you think Iraq got arms or Libya its various supplies when it too was banned from international trade? ..... South Africa too, in the days of apartheid ...... answer to all = very easily for there are always gaping loopholes to be exploited