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.

Carnage today!!

What a wonderful day BARC up 30p (8.8%). Fantastic. Let's hope that the figures on Thursday will be good enough to push it up higher.

For all those Sandy Chen fans...
http://www.investegate.co.uk/invarticle.aspx?id=31042

Cheers, thanks for that.

Can't help feeling there is going to be a big fall soon in bank shares

Me too, just timing it!

Thanks for link

Can't rule out more fund raising for BARC, they look to have been to conservative with writedowns. BARC should have bitten the bullet and raised funds via a RI, it wouldn't have done lloy any harm either, then it would end the uncertainty.

The general economic slowdown does not require banks to have greater capital available, further impairment provisions will be covered by everyday profits from retail and commercial business. Any hyped uncertainty will dissipate by early 2009 after final results for 2008, however I would not rule out the possibility of Barclays and Lloyds being involved in mergers with european or even american banks as they are vulnerable at this time with their market caps having been decimated.imho

Even though barc or lloy may not need extra funds to increase the capital requirement, if lloy for example had raised money from a ri, and stated that it was to take advantage opportunities during this downturn and emerge as stronger and leading bank. Imagine where the share price would be now, sentiment would be much stronger.

I can't see why barc or lloy would be involved in mergers with other banks, when they could takeover or cherry pick assets from distressed banks, like lloy have with mortgages from nrk.

Raising surplus capital at this time is not easy especially if it is to be used in a high risk strategy of buying assets which in this market are very difficult to value. Todays good loan can easily turn into a bad debt tomorrow as the economy weakens, banks are quite rightly being cautious in their lending activities as their competitors try to offload the dross.

Barclay downgraded by Casanove as profits down by 33%

Profits can be massaged to suit, particularly downwards. Surely a lot will depend on whether they can maintain the (cash) dividend. They clearly believe so and for the time being I am happy to give them the benefit of the doubt by continuing to hold those I still have. Did not have the courage, however, to take up the recent offer.

WOWWW!!! What a fantastic start.
Closed at 317.25 on Friday and now (8.20am Monday) at 363.25.
Let's hope that we will continue up to, at least, 400 by the end of the week.
Any views on that anyone?

Sorry but I think this is just a short-term fix by the US government. The rescue of Fannie Mae and freddie Mac will only deepen the US Treasury into more negative balance. I would sell and take profit now at 360p.

Yes, I cannot see whats changed.I think this was expected to happen and am a little surprised by the market reaction on this event alone.

Looks like it will ba another good day for BARC.

Does anyone know what's going on with Barclays?? - up about 37p yesterday and now up another 20p today!!

Most of the bigger banks are up today D2, have a look at thishttp://www.moneyam.com/action/news/showArticle?id=3208543

ED: Sorry the link isn't working, I will correct.

OK corrected, have another look.

Tks Stan - sounds great. What is the proposed date for the pre budget report?

Not sure, sometime in October I think.

NEW YORK (CNNMoney.com) -- Lehman Brothers suffered its worst quarterly loss since going public, reporting a loss of nearly $4 billion Wednesday, and announced a series of drastic steps aimed at reviving the beleaguered firm.

Among those changes were plans by the firm to spin-off part of its commercial real estate assets, sell a majority stake of its investment management division and slash its annual dividend