barclays will ge coming out with trading update on 07.05.2009 It is expected to report profits higher than market expectations.

A good Buy Medium to Long term

why is it that you can go to 5 banks and get 5 rates .

M KING should be in prison . Tanker what are you.

honest .
I SEE the royal family is not suffering with the cut backs .
we are all in it together .[bollocks is it not]

Wasn't the Royal yacht sold and not replaced because of the recession?

"M KING should be in prison".. He's already done a stretch: See Link (towards the end of the opening para).

http://en.wikipedia.org/wiki/Marlon_King">http://en.wikipedia.org/wiki/Marlon_King">http://en.wikipedia.org/wiki/Marlon_King

I'm waiting for 250p again skinny , don't wanna be too greedy :-)

Diamond gone!

Barclays chief executive Bob Diamond has resigned with immediate effect.

The move follows the resignation of chairman Marcus Agius and comes less than a week after the bank was fined a record amount for trying to manipulate inter-bank lending rates.

Mr Diamond said he was stepping down because the external pressure on Barclays risked "damaging the franchise".

The prime minister has described the rigging of Libor rates as "a scandal".

"I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth," Mr Diamond said in a statement.

He will still appear before MPs on the Treasury Committee to answer questions about the Libor affair on Wednesday.

"I look forward to fulfilling my obligation to contribute to the Treasury Committee's enquiries related to the settlements that Barclays announced last week without my leadership in question," Mr Diamond said.

Last week, regulators in the US and UK fined Barclays £290m ($450m) for attempting to rig Libor and Euribor, the interest rates at which banks lend to each other, which underpin trillions of pounds worth of financial transactions.

Staff did this over a number of years, trying to raise them for profit and then, during the financial crisis, lowering them to hide the level to which Barclays was under financial stress.

The Serious Fraud Office is also considering whether to bring criminal charges.

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nice to see you back herman, have you finished deleting your posts?

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now for the truth about HBOS ming daniels brown balls
MUST COME CLEAN ON THE RIGGING TO DESTOY LLOYS HOLDERS
ILLEGALY NOT HAVING BEEN GIVEN THE TRUE PICTURE AT HBOS GETTING BILLIONS FROM THE BOE

Presumably we can see some weakness now in the BARC sp until a replacement is found? I don't suppose Bob will have any difficulty in finding a new job however, taking his share options & severance pay with him!

Tomorrow should be interesting at the very least!

Bob will be on the hot chair tomorrow.

And his tongue will/may be somewhat "looser"!

May find out where the jewels are!

Diamond ‘hounded out by MPs’

On Friday night Barclays board, in an emergency meeting, decided that both Bob Diamond and Marcus Agius should tough it out: they did not need to quit their respective roles of chief executive and chairman.

Then on Saturday night, Marcus Agius took a personal decision to become the lightning rod for the criticism, to protect Barclays and Mr Diamond, so he decided to resign - which he told colleagues about on Sunday morning and was confirmed yesterday.

But the lightning continued to strike Mr Diamond. And so last night, after long discussion with colleagues, Mr Diamond decided go.

Why?

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Lots of research notes out today on BARC. This one from KBW:
"We had thought yesterday that the resignation of Marcus Agius (chairman) was sufficient to remove some pressure, in which case the search for a new CEO could have been carried out in an orderly manner. Clearly, that has turned out not to be the case. We also thought that the fundamental investment case when struck against the current valuation (0.47x 2012E NAV/5.5x 2013E EPS) took much into account and that, over time, Barclays' relative position within the wider industry examination of LIBOR setting may be put into more context. We think that view remains. While today's news is a negative development for us, we think that the fundamental attractions of the stock justify a positive view despite the additional uncertainty. We retain an Outperform rating, but acknowledge the stock could be volatile until some clarity re-emerges.
Fundamentals vs uncertainty. We have liked the fundamental investment case (0.47x 2012E NAV/5.5x 2013E EPS) for some time. Share price performance over the last week (-13% absolute/-17% relative to EuroBanks) takes a fair amount of the potential civil damages on the LIBOR probe into account, we think. While today's news is incrementally negative for us and the internal review of past practices will bring question marks over further change, we think that the value we see in the stock will ultimately be realised."

Merve the swerve had better watch his back tomorrow!

BOE's King Told Barclays He'd Be Happy To See CEO Go - BBC

Today : Tuesday 3 July 2012


LONDON--Bank of England Governor Mervyn King telephoned outgoing Barclays PLC (BARC.LN) chairman Marcus Agius Monday to indicate he would be happy to see Chief Executive Officer Bob Diamond leave the bank in the wake of the Libor scandal, the BBC reported Tuesday, citing an unnamed Barclays source.

Mr. Diamond resigned early Tuesday. His exit follows news that Barclays paid millions of pounds to U.K. and U.S. regulators to settle claims that some of its traders sought to manipulate the London Interbank Offered Rate, or Libor, a key interest rate linked to commercial loans and mortgages.

The Bank of England declined to comment.