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Brokers Tips

Gnarly Barclays loses ground

02 November 2015

The markets groaned as Barclays revealed further restructuring costs

Tough times for Barclays (BARC). It has given up this year's share price gains, and what was most concerning about its third-quarter figures were the extra expected costs and reduced shareholder returns from the regulatory-driven restructure of the bank. This is going to cost the bank £1bn over the life of the programme, £100m of which has already been spent. Together with tax changes, the restructuring has also brought targets for 2016 core return on equity down by 1 percentage point to 11 per cent.

Gnarly Barclays loses ground

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