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    BARC   GB0031348658


Real-time Estimate Quote. Real-time Estimate Cboe Europe - 01/28 05:51:54 am
195.88 GBX   -3.77%
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EU Commission Fines Five Banks for Forex Spot Trading Cartel -- Update

12/02/2021 | 06:28am EST

By Giulia Petroni

The European Commission said Thursday that it has fined Barclays PLC, UBS Group AG, HSBC Holdings PLC, Royal Bank of Scotland and Credit Suisse Group AG a total of 344 million euros ($389.6 million) for participating in a foreign-exchange spot trading cartel.

"The Commission's investigation revealed that some traders in charge of the forex spot trading of G10 currencies, acting on behalf of the fined banks, exchanged sensitive information and trading plans, and occasionally coordinated their trading strategies," it said.

UBS received full immunity for revealing the existence of the cartels, while Barclays, RBS and HSBC, which have too decided to settle the case and benefited from reductions, face a total fine of EUR261 million. Credit Suisse has been fined EUR83 million under ordinary procedure, according to the EU.

"Foreign exchange spot trading activities are one of the largest financial markets in the world," said Competition Commissioner Margrethe Vestager. "The collusive behaviour of the five banks undermined the integrity of the financial sector at the expense of the European economy and consumers."

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

12-02-21 0628ET

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -3.80% 195.6498 Delayed Quote.8.85%
CREDIT SUISSE GROUP AG -2.65% 8.452 Delayed Quote.-2.10%
HSBC HOLDINGS PLC -1.99% 527.3 Delayed Quote.19.98%
NATWEST GROUP PLC -1.63% 241.8 Delayed Quote.8.91%
UBS GROUP AG -2.61% 16.76 Delayed Quote.4.84%
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Analyst Recommendations on BARCLAYS PLC
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Sales 2021 21 875 M 29 271 M 29 271 M
Net income 2021 5 926 M 7 930 M 7 930 M
Net Debt 2021 - - -
P/E ratio 2021 5,94x
Yield 2021 3,03%
Capitalization 34 034 M 45 590 M 45 540 M
Capi. / Sales 2021 1,56x
Capi. / Sales 2022 1,54x
Nbr of Employees 83 000
Free-Float -
Duration : Period :
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Technical analysis trends BARCLAYS PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 23
Last Close Price 203,55 GBX
Average target price 247,81 GBX
Spread / Average Target 21,7%
EPS Revisions
Managers and Directors
C. S. Venkatakrishnan Group Chief Executive Officer & Director
Tushar Morzaria Group Finance Director & Executive Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Laura Padovani Global Head-Compliance Services
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