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

ooooops - lol!!!

Barclays Capital faces administrative sanctions from the Japanese financial regulator following the firm's report of a technical glitch with its system connecting to the Osaka Securities Exchange (OSE).

In a released statement, Japan's Financial Services Authority (FSA) wrote that the violation was a result of inadequate management of the electronic data processing systems by BarCap's affiliate in Japan (BJCL).

"The short-selling in breach...was due to BCJL's error in designing the system through which BCJL ordered equity trades to the Osaka Securities Exchange. This error was related to the indication of the fact of short-selling. BCJL started the operation of the system without checking for such an error...it continued the operation of the system without the appropriate system check for a year and a half...In addition, BCJL conducted short sales at a price equal to or lower than the latest published price immediately prior to the short sale." the FSA wrote.

In a statement released by BarCap, the firm states that upon discovering the error, it immediately reported the error to the regulators and suspended all transactions in cash equities which used the conversion system to place orders to the OSE.

"[The error] was caused by an IT system coding error and an internal review concluded that there was no deliberate intention to manipulate the market and derive a benefit...[the internal review] also concluded that the technical error was only in the system connecting to the OSE...No clients were impacted by the IT coding error," wrote BarCap.

Administrative action against the firm by the FSA include a business suspension order between the 11 and 24 October and business improvement orders.

I'll be buying next week maybe around the 120p level.

indeed you may - gl

indeed you may - gl

im in at 100p

UK-based banks will soon be highly valued, says Barclays chief Bob Diamond



Harry Wilson, 6:16, Wednesday 5 October 2011

Bob Diamond, chief executive of Barclays (LSE: BARC.L - news) , has given his strongest signal yet that the bank will not relocate to another country.

Speaking in London, Mr Diamond praised the Government's handling of the economy and said the time was coming when UK-based banks would be more highly valued by the markets.

"The valuations of large well-capitalised UK-headquartered banks have been discounted due to uncertainty in recent times but I believe it may now be time to look at these banks in a new light," said Mr Diamond.

Mr Diamond said that while the rest of Europe (Chicago Options: ^REURTRUSD - news) faced big problems the UK had already begun dealing with its indebtedness.

"We recognise that markets are greatly unnerved by lack of confidence but the UK does not face the challenges we see in Europe.

"It's ahead of many others in reducing public debt. It's working hard to pass the mantle of growth from the public to the private sector. And it has the advantage of its own currency and of fiscal autonomy. In addition, we now have more certainty about UK regulation," he said.

Speculation had grown this year in the run-up to the publication last month of the Independent Commission on Banking's (ICB) final report that Barclays and other UK banks could flock to more friendly jurisdictions such as New York (Xetra: A0DKRK - news) , Hong Kong and Singapore.

A UBS (NYSEArca: DJCI - news) analysts' report published in March made the case for Barclays to move its domicile to New York, arguing the financial benefit to the bank could be significant.

New York mayor Michael Bloomberg said at the time that Barclays moving to the city would be "great for us", adding "I hope they move here".

However, Mr Diamond said on Tuesday that the publication of the ICB report was a "welcome step towards the greater clarity that banks need to be able to operate with confidence".

"As the Chancellor said, the goal must be for Britain to be the home of successful international banks," said Mr Diamond.

George Osborne will chair the Cabinet committee that will decide how to implement the ICB report.

bob as told us all under valued 423p fair value

That makes me feel a whole lot better!

skin i have added in 3 lots 15k this morning

I have more of these than most of the board

Very long term pee, imho

How do you know that Tank ? did Bob D tell you ?

For reasons I cant go into I dont trust the man.

I would not trust him to empty my bins

crookedbankers in the states go to prison .
he would not risk that so we must believe him
that is was i keep adding ever time i have spare cash .
and the div to rise

barcs is the top bank to invest in .read the facts

"Never get sentimental about a stock & always spread the risk." I thought they were two of the basic rules for investing?

Barclays will be 500.

in August 2019

harry. barcs at least a rise to 350p in the next 12 months or before .
and divs rbs lloys no dives for at lest 2 years.
i will take the divs on the run up .
or is the world going to stop i think not you will get up one moning soon and see .
a big tick up .

Can't come soon enough!