Company
LON:BARC
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 147,000 people.
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The Week Ahead will bring updates from the likes of Royal Bank of Scotland and Barclays, plus drugs giant AstraZeneca, and media groups WPP, Pearson and WPP
Jefferies maintained a ‘buy’ rating on Barclays but raised its target price to 280p from 263p
Barclays boss Jes Staley believes "we need a more granular execution focus" on the investment bank division in order to improve returns
The biometric card RBS is developing would mean customers would not need to use a pin code to verify transactions over the £30 limit currently set on contactless payments
OneSavingsBank and Charter Court Financial Services said a merger would create a specialised mortgage lender with greater scale and resources to take advantage of growth opportunities
The use of a US$1.4bn loan from Bank of America by the activist investor to purchase shares in Barclays has caused quite a stir among other major shareholders
The UK's premier share index closed down around 32 points at 7,074
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Its set to be a busy day for blue-chip news in London on Thursday.
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The Week Ahead will also bring a trading update from AB Foods, plus final results from Standard Chartered, IAG, Persimmon, Rightmove, as well as the latest US GDP data
Sir Gerry is currently a non-executive director at Barclays and the chairman of its Barclays Bank subsidiary, but he will leave those roles at the end of February
President Trump is due to sit down for talks with Chinese Vice Premier Liu He at around 7.30pm UK time
Fines for mis-selling PPI, rigging interest rates and selling mortgage-backed securities have wiped billions from Barclays’ earnings in recent years, but those issues are almost behind it
Risers on the Footsie were outnumbered 3 to 1 by fallers
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Barclays will be a highlight in Thursday's schedule.
"The group has had a good start to the year," chairman David Morrison said.
The firm said access to the Real Time Gross Settlement accounts would now allow it to process payments made through its platforms in real-time as well as other benefits like instant transfers
According to the Financial Times, Tiger Global, which at one point had amassed a 2.5% stake in the lender began to exit its position in 2018 and finished doing so just recently
Investments and investor services
Footsie closed down around 17 points at 7,219 but FTSE 250 added over 140 at 19,127
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Aside from the banking results, the week ahead will bring updates from other blue-chips firms such as BAE Systems, Anglo American, Pearson, and Reckitt Benckiser
The lender will only grant the 100% mortgage if the family member of the purchaser puts a sum equal to 10% of the value of the property into a Lloyds savings account
