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.

I have not got 2nd level, but I think that there are a few buys going through from the quick trades that I can see on Money AM !.

I have to go and attend to a few things...I'll pick this up later...I'll just have to hope that the little rebound continues !.

Lansdowne made 12 million and bought back at 50ish

Probably will stay in over weekend....IC sell tip .....did not help....did not see that until later !.

When this was at 5, you would have said "you'll be able to buy this at 50p : 6 to 10 months later", I would never have believed you !.

heard a rumour today that some foreign equity group are going to make a bid...probably 100p level

lets face it Abramovich could buy it and still have billions of loose change

The Arabs told me different.

maestro .... you're back to talking garbage again

THE ARADS WILL BE BUYUNG CHELSEA NEXT ABRAMOVICH IS A LOT POORER NOW.

NASDAQ Last Sale
3.01 0.38 11.21%

Back to the camp site for you maestro it can get very cold this time of year living in a tent in Scarborough.

LLOY has recovered whilst BARC is still stuck in the doldrums.

This will fall to 15p or 20p before a recovery dont forget there will be 2 banks left end 2009 HSBC and ..?

How can you be certain of that ?, the only reason for the drop to 50p is that the City think that Barclays will have to raise more money somehow.....BARC have said that they will not have to....., could be a strong rebound on monday morning coupled with the Dow recovery on friday !.

it is surely odds on that all of the banks are in for a further rough ride over the coming months, though for sure there will be little peaks along the way

rf:

In todays Telegraph they are predicting 2 banks left end 2009 but which ones..?

Open letter from Marcus Agius and John Varley (Barclays)





TIDMBARC TIDM30JW

RNS Number : 2093M
Barclays PLC
26 January 2009

?
This announcement is not for distribution directly or indirectly in or into any
jurisdiction into which the same would be unlawful.


26th January 2009


BARCLAYS PLC


Open letter from Marcus Agius and John Varley




* SIGNIFICANT PRE TAX PROFITS IN 2008
* RECORD INCOME LEVELS ABSORB GBP8BN OF GROSS CREDIT MARKET WRITE DOWNS IN 2008
(GBP5BN NET)
* RELEASE OF RESULTS AGREED WITH AUDITORS BROUGHT FORWARD TO 9th FEBRUARY 2009
* CAPITAL RESOURCES WELL IN EXCESS OF REGULATORY REQUIREMENTS CREATE LARGE
PERFORMANCE CUSHION
* NO FURTHER CAPITAL SUBSCRIPTION SOUGHT



In view of the events in the banking sector last week, we have decided to
communicate now with employees, customers, clients, and shareholders in this
open letter in order to address the principal causes of concern which we are
hearing. Writing in this way ahead of the release of results is unusual, of
course, but the turn of events is also unusual.

Our starting point is that Barclays has GBP36bn of committed equity capital and
reserves; we are well funded, and we are profitable. However, we know that our
stakeholders want to see the detailed figures for 2008 as quickly as possible.
To enable that, we will bring forward the release of our 2008 financial
results, as agreed by our auditors, to Monday, 9th February.


When we announce our results for 2008, we will report a profit before tax for
the year well ahead of the consensus estimate of GBP5.3bn. This is as reported
in our statement to the stock market of 16th January. The profit is struck after
all costs, impairment and market valuations. Whilst it includes a number of
individually significant items, it mainly reflects strong operating profit
generation.

The profit includes the gains arising from the acquisition of the Lehman
Brothers North American business, and also the gain on the sale of our closed
life business.

Also included in the 2008 results are some GBP8bn of gross write downs (GBP5bn
net of own credit, hedging and attributable income) relating to credit market
exposures in Barclays Capital. This amount is arrived at by applying year end
valuations and marks to market. It is derived on a consistent basis with, and
includes, the comparable numbers for the first half of 2008 which were GBP3.3bn
gross and GBP2bn net. In the interests of clarity and transparency, we are
reporting these numbers on a gross and net basis. We will provide extensive
details as to the level of write downs and marks by asset class when we report
our results on 9th February 2009.

Our ability to absorb this level of write downs is derived from the strong and
diversified income performance in Barclays Capital and from the substantial
revenue generation of our retail and commercial banking and investment
management and wealth businesses in the rest of the Group. In other words, these
figures demonstrate that although we have been heavily impacted by the credit
crunch, our income generation was at a record level in 2008 and has enabled us
to withstand this impact and still produce strong profits.

As a result of the capital raising announced on 31st October 2008, our capital
base has been substantially strengthened in accordance with the capital plan
agreed with the UK Financial Services Authority. In consequence, our year end
capital ratios, expressed on a proforma basis to reflect the conversion of the
Mandatorily Convertible Notes, are approximately 6.5% for the Equity Tier 1
ratio, and 9.5% for the Tier 1 ratio. These ratios are as we announced in our
statement to the market of 16th January, and are computed after including the
combined impacts on our risk weighted assets of the weakening of sterling and
the pro-cyclical effects of the International Basel Accord.

On the basis of the above year end capital ratios, we calculate that the Group's
Tier 1 capital exceeds the regulatory minimum required by the FSA by an amount
equivalent to some GBP17bn in PBT. This scale of loss absorption capability,
when looked at in the context both of the solid and diversified profitability of
the Group during the stress test of 2008, and of the substantial write downs
that we have taken, gives us confidence that our capital resources are
sufficient to manage Barclays safely and prudently even in these difficult
markets. For these reasons we confirm in this letter that we are not seeking
subscription for further capital - either from the private sector or from the UK
Government.


Our capital position could benefit further from two other sources, which we
describe below.


First, on 19th January the UK Government announced a comprehensive package of
measures designed to support the UK economy by helping borrowers and lenders. We
welcome that package and, alongside other banks, have started a dialogue with
the Tripartite Authorities which will enable us to determine the terms on which,
and the extent to which, we would wish to insure certain assets on our balance
sheet through the UK Treasury's asset protection scheme. The procuring of
insurance would have the effect of reducing capital consumption (which would
allow the writing of new business in the UK).


Second, the FSA has announced a programme of work to reduce significantly the
requirement for additional capital resulting from the pro-cyclical effects of
the International Basel Accord. That reduction would be a source of further
ratio strengthening.


Before closing, we should say a word about current trading. Recognising that
2009 is not yet a month old, and that the global economy will remain weak, we
can tell you that customer and client activity levels have been high. As a
result, we have had a good start to 2009. In particular the operating
performance of Barclays Capital, benefitting as it is from the now completed
integration of the Lehman business, has been extremely strong. The trends that
lie behind the strong operating performance in Global Retail and Commercial
Banking in 2008 are again observable in its performance in January.
We take this opportunity to thank the employees of Barclays for staying focused,
and also to thank our customers and clients for their business.

Lets hope point 5 doesn't come back to bite them!

How's the short going Mitzy ?.....hmmmm !.