Barclays

Ticker BARC

Today's data summary

Market closed
% change
-0.96%
Price Pence
163.42
Change
-1.58
As of 11:52 20 Oct 2018
Market cap. Pound sterling
27,988.73 million
As of 11:52 20 Oct 2018

Latest updates

Ocado leads FTSE 100 fallers

Ocado van
Getty Images

The FTSE 100 has extended falls and is now down 0.90% at 7,442.89.

Online grocery delivery company Ocado is now leading the blue chip fallers, down 5.4% at 865p. It is closely followed by luxury fashion house Burberry, down 5% at £19.25.

Barclays is the biggest riser, up 1.4% at 174.9p.

Clothes retailer Ted Baker is leading the FTSE 250's fallers, down 9.1% at £20.97 following a fall in interim pre-tax profits.

Mining group Ferrexpo is the top riser, up 8.35% at 227.1p.

The FTSE 250 is down 0.80% at 20,137.70.

Five Barclays Bank branches to close in Cornwall

BBC Radio Cornwall

Padstow branch
BBC
The Padstow branch is one of five in Cornwall set to close

Five branches of Barclays bank in Cornwall are due to close as a result of a "change in the way people bank", the bank has confirmed.

The branches affected include:

  • Fowey - due to close 26 October 2018
  • Saltash - due to close 7 December 2018
  • Looe - due to close 14 December 2018
  • Padstow - due to close January 2019
  • Bodmin - due to close January 2019

Michael Watts, community banking director for Barclays in Devon and Cornwall, said at the Padstow branch, the number of transactions had gone down in the last two years and "77% of our branch customers are also using other ways to do their banking, such as online or by telephone".

He added that a decision to close a branch was not taken lightly and hoped the "availability of our other Barclays branches across Cornwall including Wadebridge, Newquay and St Austell ... will help to ease the transition for our customers".

Barclays admits PPI compensation error

Man at Barclays cashpoint
Newscast

Barclays has apologised for giving wrong information to tens of thousands of customers who started compensation claims over payment protection insurance (PPI).

The bank has admitted telling them they did not hold PPI policies when in fact they did.

Barclays said a "very small percentage of customers" who contacted it via claims management firms were affected.

It said it would be "proactively contacting" them to put things right.

Read more here.

Barclays boss sticks with investment banking

Bloomberg News senior writer Edward Robinson tweets:

Barclays fixing problem with online service

Simon Read

Business Reporter

Barclays branch
Getty Images

Plenty of disgruntled Barclays' customers have taken to social media today after being unable to log into their online account.

Is it a big problem? No, says to the bank.

A Barclays spokesperson told the BBC: "We're currently experiencing some technical problems.

"We’re on it, and as soon as it’s fixed we’ll let you know."

The bank added that customers are still able to use Barclays Mobile Banking app to check their balance, make and receive payments.

Let us know if you're having problems and what the bank has done about it. Contact us at bizlivepage@bbc.co.uk

Diamond: Everyone was doing it

Today Programme

BBC Radio 4

Bob Diamond
Getty Images

It was only three years ago that Barclays was fined a record $2.38bn in the US for rigging forex and other markets between 2007 and 2012.

Bob Diamond was chief executive towards then end of that period and resigned a week after the bank was fined £290m in the US and the UK for trying to manipulate inter-bank lending rates.

Was there a culture of dishonesty and even criminality at Barclays?

"I would turn it around a little bit," says Mr Diamond. "I think...[it] was happening in the FX markets broadly. I think we all see today that that was an industry wide behaviour.

"Activities of those traders was reprehensible. Of course, Barclays was a part of it, as was JP Morgan as was HSBC as was Deutsche Bank but at a very minor level relative to the others."

He adds: "I don't think that represents the culture of what we had at Barclays. I think we had a very, very strong culture and it is the single biggest reason that we were able to manage as effectively during the financial crisis relative to other UK banks as we did."

People should be angry at RBS, says ex-Barclays boss

Today Programme

BBC Radio 4

Bob Diamond at the Barclays Scottish Open
Getty Images
Back in the day: Bob Diamond at the Barclays Scottish Open in Scotland

Bob Diamond, the former chief executive of Barclays who oversaw its metamorphosis from UK retail bank to investment powerhouse, is defiant in his view of bank - especially when comparing it to RBS which received a £45bn state bailout.

He tells BBC Radio 4's Today programme: "We were able to raise capital privately so I think that was very, very important for the United Kingdom and for Barclays that Barclays did not have to go to the government for funding.

"I think people should be angry at the way RBS failed. We're 10 years on from the financial crisis and the shareholders have still not had the money back and I think separating those institutions that put themselves at risk and failed and cost the taxpayer money from those institutions that continued to operate - I'd like to see more balance in that."