Her Eleftherias Kourtalis Real GDP growth in the Eurozone in the first half of the year and inflation in July support Barclays’ estimate that the ECB will proceed with another aggressive rate hike of 50 basis points in September. However, the Bank of England’s baseline scenario for a mild recession in the Eurozone is changing […]
Tag: Barclays
Euro markets gain in wake of corporate results
European markets closed higher on Thursday as global investors digested corporate results, new economic data and some slightly less hawkish messages from the US Federal Reserve. The Fed yesterday raised interest rates by 0.75% as expected as it tries to tackle inflation without triggering a recession. Chairman Jerome Powell maintained an aggressive tone on containing […]
Barclays: Significant drop in pre-tax profits for the second quarter
Barclays reported a sharp drop in second-quarter pre-tax profits, which came in below market estimates, as the UK bank booked higher operating costs and impairments which it said were set to continue to rise. The company posted a pre-tax profit of 1.50 billion pounds ($1.82 billion) in the second quarter, up from 2.50 billion pounds […]
Sky news: Barclays to buy stake in cryptocurrency firm Copper
Barclays is buying a stake in cryptocurrency firm Copper, which counts former chancellor Philip Hammond among its advisers, according to Sky News. The British bank is among a group of new investors participating in a funding round for Copper and will invest several million dollars, with the fundraising expected to be completed within days, Sky […]
Barclays for Fed: ‘It may surprise markets with more aggressive interest rate hikes next week’
Barclays economists estimate that the US Federal Reserve may raise interest rates by 75 basis points at the monetary policy meeting on June 14-15. In the wake of the announcement of inflation data, which climbed to a new high of 40 years, Barclays analysts do not share the market expectation of an increase in interest […]
BoE: Big British banks are no longer ‘too big to fail’
The Bank of England said it was pleased that Britain’s top banks could close without jeopardizing the stability of the financial system or disrupting customers, but found shortfalls at three major credit institutions. In the first public assessment of how banks that collapse during a crisis could be solved without the help of taxpayers, BoE […]
Barclays: The cost of the Russian energy embargo – moderate to deep recession in the eurozone
Her Eleftherias Kourtali An embargo on Russian energy products that would push prices higher would trigger a mild recession, according to Barclays. However, restrictions on gas consumption (bulletin) would lead to a much deeper contraction, which would require strong political support to limit long-term economic damage, such as that applied to the pandemic by the […]
Barclays: It sold its 7.4% stake in South African Absa
Barclays sold a 7.4% stake in South African bank Absa for 26 526m ($ 687m) as it seeks to boost its capital. Barclays, which said it would use the proceeds for general corporate purposes, said the placement would increase the underlying capital ratio by about 10 basis points, resulting in a loss of 43 43m. […]
Barclays: ‘Lost’ $ 590 million from mismanagement of structured products
The British bank Barclays today announced a loss of 450 million pounds (591.80 million dollars) from mismanagement of structured products, and stressed that this means that it should delay the purchase of shares. The bank stressed that the securities offered and sold by the structured products activities for a period of one year, had exceeded […]
Barclays: The three options the EU has to ‘respond’ to the economic and energy shock
Her Eleftherias Kourtali Europe currently has three options, according to Barclays, to deal with the effects of the Russian invasion of Ukraine on the region’s economy and energy shock. The European Union, he points out, has already shown during the Covid crisis that it has budget instruments that could also be developed at EU level. […]