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

Note from Evo Securities:
"Resilient is a slightly underwhelming word that we use rather frequently to describe Barclays performance. Today is rather similar. In its Q3 results, stated EPS 9.7p vs consensus 6.6p reflects the distortion of a 2.9bn FVOOD gain in the quarter. More meaningfully, u/l PBT 1.3bn beat our 1.2bn forecast which was itself a shade ahead of wider expectations. Barcap revenues (ex-FVOOD) of 2.3bn were in line with us and a touch better than consensus of 2.2bn. We knew that Q3 wouldnt be pretty but this ranks as a thoroughly respectable performance. Reality is that Barclays is a defensive stock without a defensive rating. It is up 45% over the past 5 weeks, yet even now, on 0.5x current tNAV, (or 0.6x adjusted tNAV), the stock still offers clear value on a 12-month view.
Barclays Capital revenues down only 22% qoq. As we expected, in an extremely challenging quarter, Barcaps performance proved more resilient than many of its peers. Ex-FVOOD, revenues fell 22% qoq to 2.3bn. FICC was down only 16% qoq (probably masking a dire Commodities performance in H1). That said, the Q3 performance in equities and prime services, down 40% qoq, was weak.
Solid broad-based profitability. There were a number of creditable divisional performances, with decent u/l qoq profit growth in UK Retail & Business Banking (RBB) and Barclaycard. Indeed, even Europe RBB and Barclays Corporate recorded a profit in Q3 as costs fell in Europe and impairments fell in Corporate.
Valuation anchor tNAV up to 372p. To be clear, this tNAV per share metric, up from 353p at 30 June 2011, has been temporarily inflated by the Q3 FVOOD gain of 2.9bn which will reverse over time. Moreover, we do not expect Barclays to trade at 1.0x tNAV given that it will miss its 2013 RoE target of 13% and so investors have 2-3 years to wait with RoEsolidly profitable, the progressive dividend continues 1p in Q3 and we expect 3.5p at year-end. Even after stripping out the flattering effect of cumulative FVOOD, on 0.6x adjusted tNAV, the current discount remains too large.
Other useful progress. Management has helpfully reiterated (yet again) that it does not intend to raise equity capital. This really should not surprise, and for further evidence, it has maintained core tier 1 at 11.0% (despite now recognising a 1.8bn impairment of its stake in Blackrock through income). RWAs fell 1% qoq to 390bn, FSA eligible assets in the group liquidity pool rose 15% qoq to 152bn, and Sovereign PIIGS exposure declined by a remarkable 31% qoq to 8.0bn - primarily Spain down 43% to 2.7bn and Italy down 24% to 4.1bn."

The market sometimes bewilders me.

I thought the B. Results good and the market marks it down.

Shall I buy for tomorrow.

Fred, Agree with you and I am in at 197

Actually, BARC was up at the start, but whole market is now down, DOW also predicted to be down & therefore even the 'good stocks' being pulled down.
'Buy for tommorrow'..........depends on your interpretation of tomorrow.

I hope my to-morrow, isn't to-day.

I hold a few and will continue to do so for the next 6/12 or so.

8-)

Nomura has reiterated its buy call on banking giant Barclays, after the firms third quarter results came in ahead of expectations.

The broker notes that Barclays traditional banking operations drove the third quarter beat, and while Barclays Capital was weak, figures were in line with forecasts and still outperformed peers in a negative environment.

Nomura keeps hold of its 268p target price.



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The share price going up would reassure me more!

Why buy now? All the good news that's to come is in the price.

funny old day here today lol!!! tomorrow...................

I've been filled @184.48 - not sure I want them now!

I'll buy them off you at 178.

:-)

183 and a bit now, so you may not have been quite as dumb as would appear

Cash call..?

The Greeks don't want to be bailed out.

The peasants Greeks are revolting!

harry - 178? .... you've o'paid!

skinny 758 - should have left out the strike through lol watching closely here

hmmmmmm - bottom reached - probably end the day blue - yeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

like the screens here today lol

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