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

Toying with the 200ma - downgraded by S&P to A from A+.

results due 30 july, xd 7 aug.

Barclays fined $435m in US over energy market-rigging

US regulators have fined Barclays $435m (£287m) for manipulating energy markets in California and other states from November 2006 to December 2008.

Barclays and four of its traders must also pay $34.9m to the low-income home energy assistance programs of Arizona, California, Oregon and Washington.

They have 30 days to pay the fines imposed by the Federal Energy Regulatory Commission.

Barclays said it intended to "vigorously defend this matter".

Long on the spreads @ 316.4 target 339.0 results coming up then ex-divi.

sp faltering ahead of results next week.

Stopped out @ 321.4 + 5.0

Interims tomorrow.

Barclays says will give update on capital plans Tuesday

Espirito Santo Execution Noble Buy 312.33 418.00 418.00 Reiterates

Investec Buy 312.33 345.00 345.00 Reiterates

Bank of America Merrill Lynch Buy 312.33 370.00 370.00 Retains

JP Morgan Cazenove Overweight 312.33 375.00 375.00 Reiterates

Nomura Reduce 312.33 305.00 305.00 Reiterates

According to CNBC, Barclays are mulling over a £4B rights issue.
2517

George, its widely doing the rounds - see the link above - I've had an arbitrary long @308.

Thanks skinny, confess I hadn't looked at the link prior to my post. Now re-educated ta.
2517

Me to skinny (just got home) @ 313.3

Analysts at Investec are quite critical of any attempt by Barclays to raise fresh capital - which they think the lender does not need - at current valuations. In their opinion that would be tantamount to capitulating to regulators´ demands.

"How very disappointing!" they write to clients. In fact, the broker would rather see an 18 month dividend suspension to raising the equivalent additional capital now at just 0.9 times´ tangible net asset value [tNaV].

In that same vein, they explain that if Barclays does raise as much as £4bn "surplus" equity, on which it will earn little return, then the incremental drag on return on equity [RoE] will likely limit their view on fair value to circa 345p (their current price target).

If Barclays had the courage to say no then they would see further upside; but sadly this appears less likely, they go on to tell clients.

Investec would consider a partial mitigation - a scenario they see as likely - through the use of CoCos [Contingent convertible bonds] or CCNs [Capital contingent notes] to be an element of positive surprise.

Down over 4%.

Yep - should be fireworks in the morning!

A bit more fire to go with the smoke.

Barclays planning £5 billion capital raising - source

LONDON | Mon Jul 29, 2013 5:29pm BST
(Reuters) - Barclays (BARC.L) is planning to issue about 5 billion pounds of new shares to help plug a 7 billion pounds capital shortfall triggered by tough new UK rules, a source familiar with the matter told Reuters.

Barclays said on Monday it had been in talks with Britain's financial regulator and would update the market alongside its half-year results published on Tuesday. The source said the 5 billion pounds announcement could be made as soon as Tuesday.

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ADRs currently off 3.3%.

Half yearly Report

Performance Highlights


- Adjusted profit before tax was down 17% (£748m) to £3,591m, driven by costs to achieve Transform of £640m

- Statutory profit increased £806m to £1,677m, including a £1,350m (2012: £300m) provision relating to PPI redress, a £650m (2012: £450m) provision relating to interest rate hedging products redress and an own credit gain of £86m (2012: charge of £2,945m)

- Adjusted return on average shareholders' equity decreased to 7.8% (2012: 10.6%) principally reflecting costs to achieve Transform. Statutory return on shareholders' equity increased to 2.6% (2012: 0.6%)

- Adjusted income decreased 3% to £15,071m, with income growth across the majority of businesses offset by cost of funding deposit growth across the Group

- Investment Bank income was stable at £6,473m driven by increases in Equities and Prime Services and Investment Banking, offset by a decrease in Fixed Income, Currency and Commodities (FICC) income

- Credit impairment charges were down 5% to £1,631m, reflecting improvements in Corporate Banking and Africa RBB, partially offset by increases in Barclaycard, UK RBB, Wealth and Investment Management and Europe RBB

- Adjusted operating expenses were up 3% (£261m) to £9,781m, reflecting costs to achieve Transform of £640m, principally related to restructuring costs in Europe RBB and the Investment Bank. The adjusted cost: income ratio increased to 65% (2012: 61%) largely due to costs to achieve Transform. Excluding costs to achieve Transform, the Investment Bank compensation: income ratio was 38% (2012: 40%)

- Risk weighted assets (RWAs) were stable at £387bn. On an estimated CRD IV basis, Transform Exit Quadrant RWAs reduced by £25.4bn to £68.4bn

- Core Tier 1 ratio increased to 11.1% (2012: 10.8%) principally reflecting capital generated through earnings and the exercise of warrants offset by dividends paid

- Total assets increased to £1,533bn (2012: £1,488bn), principally reflecting increases in reverse repurchase agreements and other similar secured lending, growth in loans and advances and an increase in available for sale investments. These increases were partially offset by a decrease in derivative assets

- Total liabilities increased to £1,473bn (2012: £1,428bn) primarily due to higher than expected deposit inflows, resulting in a decrease in the loan: deposit ratio from 110% to 102%

- Net asset value per share of 397p (2012: 414p) and net tangible asset value per share of 336p (2012: 349p) reflecting an increase in shares issued, including the exercise of warrants

- An estimated £42bn of Funding for Lending (FLS) eligible gross new lending was made to UK households and businesses in H113

Barclays PLC Announces Leverage Plan

Introduction

On 20 June 2013 the Prudential Regulation Authority announced the results of its review of the capital adequacy of major UK banks and building societies. As part of its review, the PRA introduced a 3% Leverage Ratio target, calculated on a PRA-adjusted CET1 capital base and using a CRD IV leverage exposure measure. As at 30 June 2013, Barclays' PRA Leverage Ratio was 2.2%, representing a gap of £12.8 billion.

In order to achieve the PRA 3% Leverage Ratio target by June 2014, Barclays today announces a series of actions, including an underwritten Rights Issue, measures to reduce Barclays' CRD IV leverage exposure, and the continued execution of Barclays' capital plan with the issuance of CRD IV qualifying Additional Tier 1 securities. More detailed information is set out below.

Rights Issue

Barclays PLC today announces its intention to raise approximately £5.8 billion (net of expenses) by way of a Rights Issue of one New Ordinary Share for every four Existing Ordinary Shares at an Issue Price of 185 pence per New Ordinary Share. This represents a discount of approximately 40.1% to the closing price on the London Stock Exchange of 309.05 pence per Ordinary Share on 29 July 2013 (being the last Business Day prior to the release of this announcement) and a discount of approximately 34.9% to the theoretical ex-rights price based on the Closing Price.

Barclays Investment Bank is acting as global co-ordinator for the Rights Issue. The Rights Issue has been underwritten by a syndicate of banks comprising Credit Suisse, Deutsche Bank, BofA Merrill Lynch and Citi. Further details of the Rights Issue are set out in Appendix 2 of this announcement.

China might be interested if no one else is.. again.