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

Daily Telegraph 3/08/10
"Barclays (BARC.L) is understood to be involved in trials of new smartphone technology in the United States, which could hasten the end of credit and debit card dominance. The technology utilises radio frequency identification tags embedded in handsets, such as Blackberrys and iPhones, which are linked to a customer's bank account, enabling them to buy products and services by simply waving their phone at a terminal. Visa and MasterCard have unsuccessfully attempted to use the technology in the past and the implication is that they could lose their stranglehold on the market."

StockMarketWire.com
Barclays this morning reported gross profit before tax up 44% at 3.947bn for the half-year to end-June, with adjusted profit before tax up 22% at 2,963bn.

Profit after tax rose 32% to 2.921bn.

Diluted earnings per share from continuing operations were 19.7p, up 23% from 16p the prior year.

An interim dividend of 2p per share will be paid.

Impairment charges were 3.08bn, down 32%, giving a loan loss rate of 118bps (full year 2009: 156bps), with a sharp decrease in impairment at Barclays Capital partially offset by an increase in impairment in Barclays Corporate in Spain.

Operating expenses were 9.72bn, up 21%, reflecting continued investment in the build-out of Barclays Capital and Barclays Wealth, increased regulatory costs, increased charges relating to prior year compensation deferrals, adverse impact of currency exchange rate movements and restructuring charges in Barclays Corporate.

Core Tier 1 ratio was 10% (end-December 2009: 10%) and Tier 1 capital ratio was 13.2% (end-December 2009: 13%).

Disappointed. Cost:income ratio gone from 53% to 59%, which imo is an awful performance. Barclays Capital now dominates and by its nature its income is volatile, but its costs high. (BarCap top line, excluding gains on own credit and income relating to credit market exposures) down 32% on year before. Token dividend as expected. I hold, but had hoped for much better.

The market seems to agree with you. Down 3% on reasonably good results considering the macro environment, but below expectations.

The MMs are enjoying this - just a many buys as sells tells its own story.

StockMarketWire.com
Banking giant Barclays has named Bob Diamond as its new group chief executive.

He will takeover from the current chief executive John Varley next year.

Diamond - who currently leads the group's corporate and investment banking and Barclays Wealth businesses - will become president and deputy group chief executive from 1 October.

Varley will become a senior advisor on regulatory matters to Diamond and to the board of Barclays until 30 September 2011.

Heading back to it's 12 month low again.

"Nomura Securities has reiterated its neutral stance on banking giant Barclays , arguing that the potential for a re-rating remains limited while the bank faces regulatory pressures in the form of the Basel III guidelines for capital and banking regulations.

By Nomuras reckoning Barclays Capital, the investment arm of Barclays, contributes around half of the groups normalised profits, but the proposed regulatory changes will lift the divisions risk weighted assets to a little under two-thirds of the group total.

Higher capital requirements would reduce the effective RoE [return on equity] implied by our current normalised PBT [profit before tax] assumption at BarCap to 7% and limit group RoE to 10%, Nomura analyst Robert Law projects.

Law sees Barclays core Tier 1 (CT1) ratio being around 8.5% at the end of 2012. Though this is within the new Basel III guidelines Law notes it would be the lowest CT1 ratio among the UK banks, leaving the door open to pressure from the regulators to strengthen it further in view of the groups slightly racy business mix.

Bob Diamond, due to assume the mantle of chief executive officer at the bank, has, however, indicated the group does not intend to raise equity from shareholders, the broker observes."

From FT blog:
"the rumour in the market today is that they (BARC) need to raise around 8bn"

Just shorted BARC at 264p.

Why now? Surely 3 months ago was the time? Limited downside now imo.

Yeah, should have at 300p with hindsight. 230-240p imho now.

Good luck. Tight stop just in case the banks have a good day once the Eire problem is sorted!

Thanks, Harry. Yeah, tight stop needed. Agree with u.
The Irish debt is not going to disappear overnight, I hope.

Possible reason for the current nervousness in BARC:
FT "Barc has EUR1.2bn of Portugal govt bonds and EUR13.35bn of loan exposure more than any of the other UK banks."

Already in profit from yesterday.

Chart looking as though the bottom may have been reached?

why are they getting bonus the share sp as fallen 33 percent in 6 months and still one third of value of 08

I dread going in to barcs bank these days the staff always look fade up . and not interested in there poor job .

No problem where I live with the Barclays staff. All the local branches have been completely refurbished and branches always very busy. Perhaps it's the effect you have on them that makes them look fed up! ;o) Also it's not a poor job. They are reasonably well paid with certain staff perks. Many other people are out of a job completely.