Barclays Bank (BARC) Share Price London Stock Exchange October 31
Thursday didn’t start well for Barclays Bank (BARC), having opened at 223.53p just after midday the price dropped to 217.43p.
However, the price recovered throughout the afternoon to close at 222.78p, up 1.03%. However, the shares are still down 2.39% for the week and 3.06% for the month.
Nonetheless brokers are still extremely positive about Barclays’ shares with Investec, Numis and Deutsche Bank all recommending buying while only Credit Suisse is neutral. At the same time, investors still appear to be divided with 49.52% of Barclays’ shares traded on Thursday sold and 50.48% bought.
On Thursday Barclays reported that its adjusted pre-tax profits jumped 29% year-on-year to £1,922 million in the third quarter, far ahead of many brokers’ estimations. However, there are still concerns about the bank’s capital position and leverage ratio in particular. Barclay’s leverage ratio is at 3.5% but the PRA is expected to announce that banks must operate with a 4-5% leverage ratio.