Rumours abound re. Barclays which was down 6% at one point this morning.
Just read this on one of the BBs - it apparently is a broker's note from Panmure out today with their thoughts on the banking sector Barclays, RBS, HSBC abd NRK, and their share price targets. I say 'apparently' because obviously I have no proof.
"Our best guesses for the impact on most UK banks are in our mid-Sep note (where we cut
forecasts and price targets for all UK banks) – and we have since substantially revised
downwards our forecasts and valuations for NRK and RBS. Our key Sells remain BARC
(price target 500p), RBS (PT 420p), HSBC (PT 770p) and NRK (PT 100p)."
Elsewhere : -
Barclays fell 6% to 526 pence.
A spokesman for the London-based bank wasn't immediately available for comment. ``Barclays is rumored to have gone to the Bank of England for some funding,'' said Mamoun Tazi, an analyst at MF Global Securities Ltd. who has a ``neutral'' rating on the stock. ``My guess it that it's very unlikely, but never say never.''
From Citiwire at 10:20 :
The BoE said it had made no emergency loans yesterday which has caused Barclays shares to rally slightly.
The shares are currently down 33p at 538p after earlier falling to 524.5p amid rumours that the bank had asked the Bank of England for emergency funds.
Personally I'm staying on the sidelines, I find Barclays are being very quiet. There is also the small matter of the the jobs report from the USA later today.
Five year chart looks interesting