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

Today's drop is probably due to the news in Stan's link in post #1054 (SFO investigation which has hit the headlines today).

Probably Harry, but very surprised that they are only down a couple of a % at worst today... I was really looking forward to something like a 5% SP reverse so I could get in for a recovery play.

Patience :-)

True Skinny , but you know what it's like when you want to jump in with both feet.. and then are denied, well that's how I feel -):

Stan,
That's also called patience.
Take care

Stan..... my mrs does that to me every night......

Pile of shite 10p here we come .... but 170p will do me for a shed load :-)

£2.20 next stop

UK rejects claim it singled out Barclays in tax row

LONDON | Thu Sep 6, 2012 12:05am BST

(Reuters) - Chancellor George Osborne has rejected a claim by Barclays Plc that the bank was singled out for harsh treatment in a tax row and said the government took action due to the amount of tax at risk.

"This was not harsh treatment of a particular bank but rather the first opportunity to block a newly identified avoidance scheme," Osborne said in a letter to Andrew Tyrie, chairman of parliament's cross-party Treasury Select Committee.

Tyrie published the letter on Thursday after asking Osborne to respond to claims made by former Barclays Chief Executive Bob Diamond in May that tax authorities had singled his bank out for unfair treatment and damaged its reputation.

Looking good for a continued rise

This is what appears in this week's Inv Chr under the 'Tips Update' heading:
"Barclays' newly appointed chief executive, Anthony Jenkins, will have his work cut out tackling the bank's entrenched structural problems, especially as a new reputational threat is brewing too.
Considered in the City as a safe pair of hands, Mr. Jenkins has the advantage of not having been tainted by prior involvement with Barclays investment arm. Indeed, it's rumoured that he, alongside new chairman Sir David Walker (who joins Barclays in Nov) could scale back the investment arm by some 20%.
But Mr. Jenkins has taken the top job just as a new reputational threat begins to brew - The SFO is investigating fees paid to Qatar's sovereign wealth fund in 2008 when the bank was seeking fresh capital to avoid a government bailout. Add that to the banks's significant Eurozone exposure, less than ideal growth prospects amidst weak economic conditions and the potential for further reputational damage and at this level the shares are still a SELL."

When tipsters say sell its time to buy.

Yes, I'm not sure that I agree with them either. Not happy buying BARC though at this level. Too much potential downside on the chart, imo.

BARC and HSBC are much lower than they peak in this year. Both LLOY and RBS have passed the peak.

I think BARC AnD HSBC will catch up.

they started to move.

Barclays to acquire ING Direct UK

Barclays Bank PLC ("Barclays") announces that it has agreed to acquire the deposits, mortgages and business assets of ING Direct UK. The acquisition follows the announcement by ING on 2 August 2012 of a review of its strategic options for the ING Direct UK business, and its subsequent decision to exit the UK retail banking market.

Under the terms of the transaction, Barclays will acquire a deposit book with balances of £10.9bn and a mortgage book with outstanding balances of £5.6bn (as at 31 August 2012). The mortgage book had a loan to value ratio of 50 per cent as at 31 August 2012 and is being acquired at an approximate three per cent discount. The deposit book is being acquired at par. The transaction is expected to be accretive to return on equity immediately and the impact on Core Tier 1 capital is not material.

Interesting, How much did ING cost?

Investec has reiterated its 'buy' rating and 250p target price for UK banking group Barclays after the firm's purchase of the ING Direct UK business, saying that its reflects the process of 'evolution, not revolution'.

"While other issues may make the headlines, one hallmark of Chris Lucas’s tenure as CFO has been a string of small, value-accretive, bolt-on retail acquisitions. Today’s announcement of the purchase of the ING Direct UK business (at a discount) is a continuation of this trend – adding £10.9bn deposits, £5.6bn mortgages, 750 staff and 1.5m customers," said analyst Ian Gordon.

"While the selective acquisition of distressed Lehman assets in 2008 may go down in history as the most daring, opportune and immediately value accretive transaction of all, Barclays’s disciplined but committed approach to opportunities in the retail space is acting as a particularly useful source of sustainable value accretion."

Yes, But how much did ING cost?

From the above it appears the deposit book is being acquired at par value (ie £1 for £1) & the mortgage book at a 3% discount. So the profit is 3% of £5.6bn set against the cost of 750 salaries !