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Barclays Bank Share Price Drops After Strong Close to October

Barclays Bank Share Price Drops After Strong Close to October

Despite positive announcements from the Financial Policy Committee regarding the new leverage ratio rules which caused a huge jump in share price at the end of last week, Barclays Plc (BARC) had a disappointing start to this week. The shares opened at 240.45p but fell steadily throughout the day and closed at 237.00p.

Nonetheless analysts remain positive about the bank. In its most recent assessment Citigroup reiterated its ‘Buy’ position but moved the target price up 15p to 315p. Investec has also reiterated its ‘Buy’ position as has Espirito Santo Execution Noble, Nomura and Numis. However, not all brokers are positive; Credit Suisse released an assessment of ‘Neutral’ as did Exane BNP Paribas while JP Morgan Cazenove assessed the shares as ‘Overweight’.

Investors also seem to be fairly divided. On Monday 52.44% of Barclays Plc shares that were traded were sold while 47.56% were bought.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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