UBS upgrades CYBG but still prefers large-cap banks Lloyds, RBS and Barclays
UBS sees better risk / reward at Lloyds, Barclays and RBS
Company
LON:BARC
Barclays is a global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management. It operates through branches, offices and subsidiaries in the United Kingdom and overseas.
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UBS sees better risk / reward at Lloyds, Barclays and RBS
At the close, the UK blue chip index was 41.12 points higher at 7,004.10, the session peak, and well above the early low of 6,995.99
Investments and investor services
Brief boost to Dow from sterling Boeing results fade in late trade as stocks were pummeled across the board
The under-pressure investment bank delivered a 9% increase in pre-tax profit while income was broadly flat
Investments and investor services
Footsie finished Wednesday nearly eight points higher at 6,962.
Arguments for whether charges should be brought against Barclays will be heard in the High Court this week
Investments and investor services
The third quarter banking results season is upon us and Barclays is set to open the batting, more in the style of Keaton Jennings than Alastair Cook, according to many pundits
“RBS has been the best of a bad lot, with Standard Chartered, perhaps weighed down by concerns over its emerging markets, the worst of the FTSE 100’s Big Five, in share price terms,” said AJ Bell investment director Russ Mould
The UK's premier index of leading shares closed down seven points, or 0.10% at 7,042
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Aside from the banking trio, updates are also due in the week ahead from the likes of WPP, Whitbread, International Airlines Group, Ryanair, Glencore and Antofagasta
UBS said Barclays is its top pick of European banks
The British banking giant’s head of digital assets departed in September
Banks are trying to compete with Goldman Sachs' retail bank Marcus in the US and the UK
HSBC has become the latest major bank to settle over the mis-selling of residential mortgage-backed securities, following penalties paid by RBS and Barclays
Given the risks facing the economy, including Brexit and a trade war between the US and China, there is speculation about whether a global recession could happen again
Berenberg said Barclays has the "strongest franchise of any non-US bank in the profitable US investment bank market and is gaining market share"
Barclays said the errors occurred when bulk requests were made by claims management firms on behalf of individuals seeking PPI claims
Goldman’s online retail bank, named Marcus after the group’s founder, is offering an interest rate on savings of 1.5%
The news follows a string of online banking problems for a number of lenders this year including Barclays and TSB
The UK's index of leading shares added 1.6 points, or 0.02% , to finish at 7,279, while sterling was up 0.80% against the US dollar