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

excellent
http://www.bbc.co.uk/news/business-33533664

Half Yearly Report

Performance Highlights

Continued progress on our strategy:

· 11% growth in Group adjusted profit before tax to £3,729m reflecting improvements in all Core operating businesses. Group adjusted return on average shareholders' equity increased to 7.7% (H114: 6.5%)

· Solid return on average equity performance across the businesses resulted in an increase in Core return on average equity to 11.1% (H114: 11.0%), driven by a 10% increase in profit before tax to £4,241m through positive cost to income jaws, with an increase in average allocated equity of £6bn to £47bn

· Further run down of the Non-Core business, with risk weighted assets (RWAs) decreasing to £57bn (December 2014: £75bn). Non-Core dilution of the Group's return on average equity was 3.4% (2014: 4.5%), having reduced average allocated equity by £4bn to £10bn

· Strong progress on capital and leverage, with the fully loaded common equity tier 1 (CET1) ratio increasing to 11.1% (December 2014: 10.3%) and the leverage ratio increasing to 4.1% (December 2014: 3.7%), achieving our 2016 targets

· A 7% reduction in total adjusted operating expenses to £8,262m and a 5% reduction in operating expenses excluding costs to achieve to £7,946m, driven by savings from strategic cost programmes

· Progress on legacy litigation and conduct matters, with settlements of £1,608m reached with a number of authorities in Q215 in relation to industry-wide investigations into certain sales and trading practices in the Foreign Exchange market and an industry-wide investigation into the setting of the US Dollar ISDAFIX benchmark

· Net tangible asset value per share decreased to 279p (December 2014: 285p) as profit generated for the period was more than offset by dividend distributions and the impact of changes in major forward interest rates and currency movements on reserves

· Statutory profit before tax increased 25% to £3,114m, which included a net loss in adjusting items of £615m (H114: £848m)

Material adjusting items:

· Additional provisions of £800m (H114: £nil) were made in H115 for ongoing investigations and litigation primarily relating to Foreign Exchange, taking the total provisions to £2,050m

· Additional UK customer redress provisions of £1,032m (H114: £900m) were taken based on an updated estimate of future redress and associated costs. This included an additional provision of £850m recognised in Q215

· A £496m (H114: £nil) gain on US Lehman acquisition assets was recognised in Q215 reflecting a settlement to resolve outstanding litigation with the Trustee of Lehman Brothers Inc.

· A £429m (H114: £nil) gain was recognised in Q115 as the valuation of a component of the defined retirement benefit liability was aligned to statutory provisions

· A £118m (H114: £nil) loss was recognised in Q115 primarily relating to accumulated currency translation reserves recycled upon the completion of the Spanish business sale

Barclays has chosen a veteran American banker as its new chief executive, signalling a dramatic shift back to its controversial investment bank. Jes Staley, 58, a former JP Morgan banker, is set to be appointed in the next two weeks, subject to regulatory approval. The appointment is likely to spark criticism from politicians and shareholders, who want to see a continued crackdown on excessive pay and poor returns at the bank.

SP down nearly 3% on 1st knockings so far.

Reuters - BREAKING NEWS: BoE spokeswoman says no individual has been approved yet as new Barclays chief executive.

And now Reuters have changed the article as per Stan's post!

Barclays set to name former JPMorgan banker Staley as new CEO

Barclays PLC and Barclays Bank PLC ("Barclays") note the recent press speculation regarding the potential appointment of Mr James Staley as its new Group Chief Executive Officer.

The process of appointing a new Group Chief Executive Officer has not yet concluded and Barclays will provide a further update once that is complete.

StockMarketWire.com
Barclays reports 4% growth in group adjusted profit before tax to £5,156m in the nine months to 30 September, reflecting improvements in all core operating businesses.

Group adjusted return on average shareholders' equity increased to 7.1% (2014: 6.3%).

The group saw a 5% reduction in total adjusted operating expenses to £12,465m and a 4% reduction in operating expenses excluding costs to achieve to £11,926m were driven by savings from strategic cost programmes.

Profit before tax in the Core business improved 7% to £6,005m with higher income and lower costs. Combined with the increase in average allocated equity of £6bn to £47bn, this resulted in a return on average equity for the Core business of 10.5% (2014: 10.5%).

The rundown of the Non-Core business continued, with risk weighted assets (RWAs) decreasing to £55bn (30 June 2015: £57bn). The announced sale of the Portuguese retail business in Q315, due to be completed in Q116, is expected to result in a further £1.7bn reduction in Non-Core RWAs. Period end allocated equity reduced to £9bn.

Group capital and leverage metrics remained above the 2016 targets, with the fully loaded common equity tier 1 (CET1) ratio at 11.1% (30 June 2015: 11.1%) and the leverage ratio increasing to 4.2% (30 June 2015: 4.1%).

Net tangible asset value per share increased to 289p (30 June 2015: 279p) driven by profit generated for the period and favourable reserve movements. Statutory profit before tax increased 7% to £3,975m, which reflected net losses on adjusting items of £1,181m (2014: £1,217m).

Barclays said additional provisions of £270m were made in Q315 relating to the settlement of two residential mortgage backed securities claims with the National Credit Union Administration and the settlement of certain legacy benchmark litigation, taking the total additional provisions for ongoing investigations and litigation including Foreign Exchange in 2015 to £1,070m (2014: £500m).

And additional UK customer redress provisions of £290m were made in Q315 as a result of an internal review relating to rates provided to certain customers on foreign exchange transactions between 2005 and 2012, taking the total provisions for UK customer redress in 2015 to £1,322m (2014: £910m). No additional Performance Highlightsprovisions for PPI redress were made in Q315.

A loss on sale of £201m was recognised in Q315 relating to the announced sale of the Portuguese retail business within Non-Core, which is due to complete in Q116. This is in addition to the loss of £118m recognised in H115 relating to the sale of the Spanish business

Chairman John McFarlane said: "Today's results show another quarter of progress in our Core businesses alongside the early effects of some of the changes that we are making.

"We are pleased that Jes Staley will join us on 1 December as Group Chief Executive Officer, earlier than expected, and we are in the final stage of appointing a Senior Independent Director and Deputy Chairman to replace Sir Mike Rake on his retirement from the Board in the near future.

"As we align Barclays around our three priorities - focus on core (segments and markets), generating shareholder value, and instilling a high performance culture with strong ethical values - we now have a forward agenda that has been discussed and agreed with Mr. Staley.

"We will update the market on our plans for structural reform after we have agreed them with the regulator.

"Now that we have a new CEO in place, we will provide further updates on future direction at the full year results."

RNS @ 12..38 30/10/15 60bn bond or loan note to issued, this information
was not previously said . or has it been lost in other company news rns
I have not seen it before, stop the BB

Berenberg today upgrades its investment rating on Barclays PLC (LON:BARC) to hold (from sell) and left its price target at 200p.

22 Jan Investec 260.00 Buy
22 Jan Berenberg 200.00 Hold

Barclays has been hit with a lawsuit for nearly a £1bn from Amanda Staveley, the deal-maker with a host of Middle Eastern connections, over the lender's emergency £5.8bn fund-raising in 2008. Ms Staveley's PCP Capital Partners has sued Barclays in London, according to a court listing dated earlier this week. While it gave no details of the nature of the dispute, the bank confirmed that it turned on its capital call at the height of the financial crisis,reports Caroline Binham. - Financial Times

This has had the crap kicked out of it over the last few sessions ..

At some point it's a buy .

Any particular point in mind?.........140p?

As always i will experience some pain before gain HARRY but i would be surprised if it got that low . Alternatively try and trade it ,it has moved by 5% or more recently , i think for me it could be a buy and hold for a while .

Withdraw a small fortune

Despite expectations of further cooling in the British economy, I believe banking giant Barclays' (LSE:BARC) remains a terrific growth selection.

Adding to fears of potential pressure on the firm's High Street operations, the latest updates from Santander and Royal Bank of Scotland this week again highlighted the huge financial fallout heaped on Britain's banks by the PPI mis-selling scandal of previous years.

Still, Barclays et al should take confidence from the FCA's plans to put a lid on claims not put-in before 2018. And the company's Transform streamlining package looks set to drive costs steadily lower in the coming years.

On top of this, the steady rise of the firm's Barclaycard division -- combined with the potential of its pan-African operations -- should also win over investors concerned over possible near-term pressures on its Retail Banking arm.

The City expects Barclays to follow a predicted 24% earnings rise in 2015 with a 21% advance in 2016, leaving the company dealing on an ultra-cheap P/E rating of 8.6 times. I believe the banking goliath merits serious investor attention at these prices.

I couldn't resist any longer. 1.64 for me. Not sure whether I want to be quickly in and out for 5-10% or whether to hold longer.

Nearly went for HSBA instead because of the dividend difference but 1.64 just looked too tasty to ignore

No stoppıng the rot here. If we get to 140p I mıght be brave and buy some.

1 Feb Goldman Sachs 320.00 Conviction Buy

Any snıff off bad debts creepıng back up and 320.0 wıll be even further away.

I agree Claret but i think they are oversold at the moment .