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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays Plc    BARC   GB0031348658

BARCLAYS PLC

(BARC)
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Delayed Quote. Delayed London Stock Exchange - 07/10 11:35:11 am
117.76 GBX   +5.18%
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Oil rescues big banks' commodities profits as gold income tumbles

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06/01/2020 | 12:36pm EDT
FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma

By Peter Hobson

The world's 12 biggest investment banks cashed in on commodity price volatility caused by the coronavirus in the first quarter, with big increases in income from oil offsetting a tumble in precious metals, consultancy Coalition said.

The banks' net revenue from trading, selling derivatives and other activities in the commodities sector was around $1.5 billion (£1.20 billion) over January-March, the financial industry analytics firm said.

That compares to around $1.2 billion in the same period in 2019, it said.

The first quarter was marked by huge swings in commodities markets as the coronavirus spread across the globe, shutting industry, confining people to their homes and paralysing supply chains.

Prices of oil, metals and some other key commodities slumped, while gold prices in London and New York, the two main bullion trading centres, saw their biggest divergence in decades. [O/R] [METL/]

Investment banks are often able to profit from volatility because it can make clients more active and they can bet on prices moving in a certain direction.

The 12 banks did best in oil, with net revenue almost doubling from the first quarter of 2019 to around $700 million, Coalition research director Amrit Shahani said.

Precious metals revenues, however, plunged to less than $100 million from close to $250 million a year ago, he said.

What had been a very profitable quarter was hammered in late March when prices of New York futures rose sharply above London rates and the value of banks' positions across the two markets fell sharply, Shahani said.

Banks' revenues from commodities increased in 2018 and 2019 after a decade of decline since the global financial crisis as heightened government regulation and poor performance made them shrink their commodities businesses.

The 12 banks Coalition tracks for its quarterly reports are Bank of America Merrill Lynch, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, Societe Generale and UBS.

(Reporting by Peter Hobson; Editing by Veronica Brown and Giles Elgood)

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 5.49% 24.02 Delayed Quote.-31.80%
BARCLAYS PLC 5.18% 117.76 Delayed Quote.-34.45%
BEST INC. -6.67% 4.48 Delayed Quote.-19.42%
BNP PARIBAS 3.29% 36.68 Real-time Quote.-30.57%
CITIGROUP INC. 6.47% 52.65 Delayed Quote.-34.10%
CREDIT SUISSE GROUP AG 2.09% 9.86 Delayed Quote.-24.76%
DEUTSCHE BANK AG 2.45% 8.825 Delayed Quote.27.58%
GOLD 0.21% 1804.22 Delayed Quote.18.53%
HSBC HOLDINGS PLC 0.96% 377.5 Delayed Quote.-36.17%
JPMORGAN CHASE & CO. 5.47% 96.27 Delayed Quote.-30.94%
LONDON BRENT OIL 0.26% 42.599203 Delayed Quote.-35.88%
MORGAN STANLEY 4.82% 49.8 Delayed Quote.-2.58%
THE GLOBAL LTD. -3.30% 205 End-of-day quote.-56.48%
THE GOLDMAN SACHS GROUP, INC. 4.44% 205.56 Delayed Quote.-10.60%
UBS GROUP AG 1.23% 11.135 Delayed Quote.-8.92%
WORLD CO., LTD. -5.40% 1420 End-of-day quote.-47.23%
WTI 0.29% 40.245 Delayed Quote.-35.40%
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Financials
Sales 2020 21 281 M 26 933 M 26 933 M
Net income 2020 723 M 915 M 915 M
Net Debt 2020 - - -
P/E ratio 2020 32,6x
Yield 2020 1,70%
Capitalization 20 419 M 25 817 M 25 841 M
EV / Sales 2019
Capi. / Sales 2020 0,96x
Nbr of Employees 80 800
Free-Float 99,6%
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Technical analysis trends BARCLAYS PLC
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 143,77 GBX
Last Close Price 117,76 GBX
Spread / Highest target 99,6%
Spread / Average Target 22,1%
Spread / Lowest Target -38,0%
EPS Revisions
Managers
NameTitle
James Edward Staley Group Chief Executive Officer & Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
Timothy James Breedon Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BARCLAYS PLC-34.45%25 817
JPMORGAN CHASE & CO.-30.94%293 291
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-16.83%256 920
BANK OF AMERICA CORPORATION-31.80%208 388
CHINA CONSTRUCTION BANK CORPORATION-5.05%207 181
BANK OF CHINA LIMITED-15.62%140 810