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

So what's the feeling about these tomorrow? up or down at the end of the day? On the sidelines myself as only have a 50/50 feeling about the results.

I have a feeling the markets are not overly worried about the last few months . They seem to be concentrating on forecasts for 2012 from BARC, which should set the mood for friday. Tricky call, but hoping for fair / middling.

Final Results.

Blimey - there's a lot of it!



Financials - Performance Highlights

- Total income increased 3% to GBP32,292m, adjusted income excluding own credit and debt buy-backs down 8%

- Profit before tax of GBP5,879m down 3%, adjusted profit before tax of GBP5,590m down 2%

- Credit impairment charge of GBP3,802m improved 33%, with an annualised loan loss rate of 77bps (2010: 118bps)

- Operating expenses, excluding PPI provision, goodwill impairment and UK bank levy, of GBP18,855m down 4%. Cost saving targets have been exceeded

- 2011 total incentive awards down 26% across the Group compared with a 3% reduction in profit before tax. Barclays Capital total incentive awards down 35% compared with 2010, with Barclays Capital profit before tax reducing 32%

- Core Tier 1 ratio strengthened to 11.0% (2010: 10.8%), despite the impact of the third Capital Requirements Directive (CRD3), with risk weighted assets reduced to GBP391bn (2010: GBP398bn)

- Liquidity pool remained strong at GBP152bn (2010: GBP154bn)

- Net asset value per share increased 9% to 456p and net tangible asset value per share increased 13% to 391p

- Universal banking model helped to deliver broadly balanced adjusted profit before tax across the retail and investment banking businesses

- Sovereign exposure to Spain, Italy, Portugal, Ireland and Greece reduced to GBP7.1bn (2010: GBP8.2bn)

- Final dividend of 3.0p per share for the fourth quarter, making 6.0p for the year, an increase of 9%

Quite a turnaround - the smell of shorters burning?

Yep, quite surprising price movements this morning, still shame I didn't dither a bit longer until 8.01 this morning although I expect the spread would have been intergalactic at that time. :>)

The problems in Europe and US are eroding. This combined by positive results from many industries will help to recover, and the banks will benefit the most.

If they did so well during the crises, they should do better in Olympic year.

Can't say I share your optimism ahoj.
2517

A very positive response by the market so far, SP up 4%.

Chart breakout. wow

Soc Gen note:
"We downgrade Barclays to Hold (from Buy) and our target price to 250p (from 270p). We think the shares will not outperform the sector until management can demonstrate how it can propel returns on tangible equity much past 10%. Barclays has a safe and liquid balance sheet but this relative advantage is being eroded by successful balance sheet restructuring elsewhere and the ECBs generous liquidity provision. Barclays is not particularly expensive, trading at 0.6x 2012 tangible book value, but we downgrade to Hold after the shares have risen 35% in the past three months and are up 11% versus the European bank sector and 24% versus the UK market in that time."

Nomura note:
"With this note we downgrade Barclays to Neutral. While there may be some near-term upside as investors buy the hope that 2012 IB revenues may be better and sentiment remains positive into the LTRO, we are more inclined to take profits in any rally in favour of higher quality exposures in the sector, including the UK Asian banks. We prefer Barclays in the context of EU-17 banks on a relative basis rather than absolute upside.
While we see limited asset quality worries with Barclays, especially relative to Lloyds and RBS, we see earnings power as a key issue. We think RoE was c. 6% and 5% in BarCap on a BIII basis, pre ICB impact The company seems to be toughing it out, rather than restructuring as witnessed by company comments about BarCap making 10% on allocated equity, gaining share and deferring the 13% RoE target. As a result, we are cutting expectations to flat this year."

have sold all my shares , moved on to cna

Ex divi next wed (22nd Feb).

The Treasury has closed two "highly abusive" tax loopholes after a leading bank - believed to be Barclays - tried to avoid paying more than £500 million.

The move is the first time the current Government has clawed back taxes which have been avoided in the past and will ensure billions of pounds of tax are paid in the future.

Although the Treasury has not named the bank, the schemes have been widely linked to Barclays, which will cause the bank embarrassment because it has signed up to a code of practice against tax avoidance and has stressed the importance of good citizenship.

Barclays flagged up the schemes to HMRC but the Government decided they were not suitable for a company that had signed up to the code of practice.

It has been reported that Barclays does not agree with the Treasury's estimate of a £500 million loss, saying the real figure is less than £200 million.

One of the tax schemes involved a bank avoiding corporation tax on profits it made buying back its own IOU-notes. The Treasury said it will move to block the recent use of the scheme by the bank and by any other company.

The other scheme - understood to be devised by the same bank - in

The Treasury accused the unnamed lender – understood by the Daily Mail to be Barclays – of using two 'highly abusive' and 'aggressive' avoidance schemes to hide the money from the taxman. The government has now outlawed both loopholes in a move that is expected to save it a further £2billion in tax that would otherwise have gone unpaid.
Comments (2) Share

surprised the sp is holding up so well, thought there might be a dip.,.

this gov has created more non jobs than the labour councils they should both be put
on the front pages of ever daily paper . this gov which i voted for told a pack of lies to get into power. the conservative party is now a party SO DISHONEST it is a disgrace to office. cameron should resign in disgrace bbut he as no moral he is a liar
the NHSafe in is hands is hands now as blood all over them

Tanker,
I think internet provided the opportunity for people to share their knowledge which in longer term prevent the governments to ignore their promises.

I think the issue with SUN, telephone scandle, etc give a good lesson to anyone who misuse its power and trade livelihood of people to gain...

ahoj . do you no why there is which hunt on the press.
it is for one reson only . because of the MPs expensive scandal.
the knife is sharper than the pen

the directors of this bank are filling there pockets and could not give a shite for holders they treat them with distain

A bit like most of them then.