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

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.

In the words of the bard " bum"!

Looks like desperation to me?...Oh dear!

Tin Hat alert!

Just 5% down….that looks like a generous get-out to me…I have no financial interest in the barc casino…or would ever desire one…tricks being played here imo?

I expected far worse - price taking into account the RI is @284.2p.

Early days chaps.

looking like a reasonable time to buy, though i'ld be more inclined to buy the sector

Good luck there mate! lloy are ok and i hold a few...that's a first...

barc...............ffs!

I expected a lot worse but could still go down from here. I will be taking up my rights issue, seems daft not to when there is still a premium.

So Bull….do you believe the SP reaction legitimate? lol

I know straighter springs.. than the guys behind barc…

Look what happens if a banker shows 1% of honesty or decency….Stephen Hester. lol he resigned…yer right!

tabasco : surprised share price its not far worse. Do think the underwriters are going to make a packet, I expect they are already selling into this market and pocketing £1, I would if i could !

Espirito Santo Execution Noble Buy 295.25 309.05 418.00 418.00 Reiterates