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

RBC note out yesterday (RBC is bookrunner):
"We have adjusted our revenue forecasts to reflect comments on July/August but assumed September 13 revenue is flat on last year. We have also assumed no cost offset in H2 13, which is conservative, but explained by the fact that we are already at £18.3bn of costs ex Costs to Achieve (CTA) in 2013 versus the £18.5bn target. We do forecast some rebound in FICC in Q4 13 and a moderate rise in 2014/15, which explains the lower downgrade in 2014/15.
Post our adjustments our price target moves down from GBp320 to GBp310 (on an ex rights basis) in line with our 2015 forecast adjustment. This assumes that the shares trade close to 2013E TBV. We set our price target based on a 2015 valuation discounted back two years using a cost of equity of 10.7% using a price to book/ROE model and a sum of the parts, the average of which point to a price target of GBp310."

Announcement of Results of Rights Issue

Barclays is pleased to announce that, under the terms of the Rights Issue announced on 30 July 2013, as at the latest time and date for receipt of valid acceptances, it had received valid acceptances in respect of 3,046,197,378 New Ordinary Shares, representing 94.63 per cent. of the total number of New Ordinary Shares offered to Shareholders pursuant to the Rights Issue.

It is expected that the New Ordinary Shares in uncertificated form will be credited to CREST accounts as soon as practicable after 8.00 a.m. today, 4 October 2013 and that definitive share certificates and Sharestore Advices will be despatched to the relevant Qualifying Shareholders by no later than 17 October 2013.

It is expected that the New Ordinary Shares will commence trading, fully paid, on the London Stock Exchange plc's main market for listed securities at 8.00 a.m. today, 4 October 2013.

QTR 3 IMS next Wednesday 30th October.

Bought in here this mornning ahead of tomorrow's update.



29 Oct 13 Goldman Sachs Neutral 265.13 310.00 310.00 Reiterates

28 Oct 13 Barclays PLC Deutsche Bank Buy 265.13 325.00 325.00 Retains

23 Oct 13 Barclays PLC Citigroup Buy 265.13 320.00 320.00 Reiterates

skin quite a large gap to fill on your chart?

Yes - 260ish has proven to be reasonable support over the last few years.

Interim Management Statement

Group Performance Review

Funding and Liquidity1

- Consistent with our plans to optimise the size of the liquidity pool, within our established liquidity risk appetite framework, the Group liquidity pool reduced £8bn during Q3 13 to £130bn2 as at 30 September 2013. It remains in excess of our internal and regulatory requirements. During the first nine months of 2013, the month end liquidity pool ranged from £130bn to £157bn (Full Year 2012: £150bn to £173bn)

- Cash and deposits with central banks accounted for £61bn of the liquidity pool (30 June 2013: £71bn)3, Government bonds accounted for £49bn (30 June 2013: £47bn)4, and other available liquidity accounted for £20bn (30 June 2013: £20bn)

- The Group estimated itsLiquidity Coverage-Ratio (LCR) at 107% at the end of Q3 13 (30 June 2013: 111%) based upon the latest standards published by the Basel Committee. This is equivalent to a surplus of £9bn above the 100% ratio (30 June 2013: £14bn)5. The reduction since 30 June 2013 is consistent with our plans to optimise the size of the liquidity pool

- The customer loan to deposit ratio for RBB, Corporate Banking and Wealth and Investment Management was unchanged at 94% (30 June 2013: 94%). The loan to deposit ratio for the Group decreased to 100% as at 30 September 2013 (30 June 2013: 102%)5

- The Investment Bank activities are primarily funded through wholesale markets. The Investment Bank does not rely on customer funding from RBB, Barclaycard, Corporate Banking and Wealth and Investment Management. Total Group wholesale funding outstanding (excluding repurchase agreements) was £198bn (30 June 2013: £217bn ), of which £85bn matures in less than one year (30 June 2013: £93bn) and £25bn matures within one month (30 June 2013: £30bn). The Group has £3bn of term funding maturing in the remainder of 2013 and £24bn maturing in 2014


Dividends

- We will pay a third interim dividend for 2013 of 1.0p per share on 13 December 2013 resulting in a 3.0p dividend year to date

Outlook

- We continue to remain cautious about the environment in which we operate and our focus remains on costs, capital, leverage and returns to drive sustainable performance improvements

(Reuters) - Barclays said it is cooperating with regulators investigating the possible manipulation of currency trading by major banks after reporting profits fell by a quarter following a slump in its investment bank earnings.

Barclays said on Wednesday it was reviewing its foreign exchange trading "covering a several year period" and was cooperating with authorities investigating possible attempts to manipulate certain benchmark currency exchange rates.

It joined UBS and Deutsche Bank, who said on Tuesday they were cooperating with regulators probing alleged rigging in the $5.3 trillion-a-day foreign exchange market.

The investigation adds to a string of regulatory probes to hinder Barclays boss Antony Jenkins, who took over as chief executive 14 months ago and is trying to rebuild the bank's reputation after a series of scandals.

Barclays reported an underlying pretax profit of 1.4 billion pounds for the three months to the end of September, down from 1.9 billion a year ago but above an average forecast of 1.25 billion from analysts polled by the company.

Profits at its investment bank fell to 463 million pounds, down from 988 million a year ago and below expectations. It was the unit's lowest profit since the end of 2011 and was largely due to a 44 percent slump in revenues in its fixed income, currency and commodities in the latest quarter.

Barclays said its common equity Tier 1 capital ratio under full Basel rules improved to an estimated 9.6 percent including the 5.8 billion pounds it raised in a rights issue last month.

Goldman Sachs Neutral 274.93 263.25 310.00 310.00 Reiterates

Societe Generale Buy 269.38 320.00 320.00 Reiterates

JP Morgan Cazenove Overweight 269.38 315.00 315.00 Reiterates

Nomura Buy 269.38 330.00 330.00 Reiterates

Beaufort Securities Hold 269.38 - - Initiates/Starts

Bank of America Merrill Lynch Buy 269.38 325.00 345.00 Reiterates

Deutsche Bank Buy 269.38 325.00 320.00 Retains

Barclays will make 1,700 of its branch staff redundant as it scrambles to boost returns. Five per cent of employees in the 33,600-strong retail network will lose their jobs next year, staff were told last night in a conference call to the 1,577 branches. Barclays said it was making the cuts as fewer customers were visiting branches and more were doing their banking over the internet. The redundancies, which will start as voluntary but will become compulsory if insufficient staff come forward, was criticised by Unite, The Times reports.

Investec note today:
"We regard today’s announcement from the Prudential Regulatory Authority on “key decisions on capital standards” as strongly positive for Barclays relative to fearful market expectations. Ever since publication of CP5/13 on 2 August, and more particularly in the light of RBS’ comments on 1 November, investors have feared a radical departure from the uncharacteristically reassuring statement issued by the PRA on 30 July, which roundly endorsed Barclays’ existing capital plan. This outcome is a victory for common sense.
As discussed in our note, Off the floor but fighting for more!, 27 Nov, Barclays’ optical cheapness, trading on just 0.85x 2014e tNAV, reflects the fact that the near-term investment case had become little more than a capital arbitrage play. For once, an optimistic view has paid off, and, in our view, fears of a further round of capital issuance in 2014 should now all but evaporate.
The devil is in the detail, and we don’t have all the detail yet, but in terms of what we do know, the PRA has agreed that firms may meet all Pillar 2A risks with a mix of 56% Common Equity Tier 1 (CET1) capital and, by implication, up to 44% of CoCos/CCNs. (CP5/13 consulted on 100% CET1). Barclays’ “capital stack” as presented to investors when it successfully raised US$2bn of CoCos 3 weeks ago had not changed (at all) from its capital plan of 30 July.
Similarly, the PRA confirms that it will require firms to meet a 4% Pillar 1 CET1 requirement in 2014, rising to 4.5% in 2015, and the required Pillar 1 Tier 1 capital ratio is 5.5% rising to 6% in 2015. This (appears to) accord precisely with Barclays’ existing capital plan which targets 10.5% CET1 in 2015.
Banks are “expected to meet” 7% CET1 capital and a 3% adjusted leverage ratio from 1 January 2014, but Barclays’ side-agreement on leverage until 30 June 2014 still holds. Expect continuing upward pressure on capital/leverage requirements, but with an orderly transition, there is so much less to fear. Buy recommendation and 300p RoE-g/CoE-g derived TP reaffirmed."

Numis Securities has upgraded its rating for UK banking group Barclays from 'reduce' to 'hold' and hiked its target price from 222p to 274p, saying that investment risks have already partially been priced in.

Analysts Mike Trippitt said that while Barclays awaits announcements from regulators on leverage ratios, its dividend "may well be the release valve for any leverage pressure". However, he said: "Whilst the investment case is muddied by leverage uncertainties, some uncertainty is discounted in recent share price weakness."

sp 264p moving up ahead of final results due 11th February 2004

It would be good to go back 10years with what I know now.

you'ld have been better served going back just 5 years, though some might prefer it if you went back 10 years and stayed there :-)

What goes around comes around!

How about 25 years.

5 years ago was still a better deal if you caught the price at the bottom (about 50p)

I remember when it was 50p only if I wasn't fearful like everyone else and just bought in big all hindsight tho !!

Back in today a bit higher then I liked at 285 but lets see.

Chart wise I think it looking like a steady up trend.