logo-loader

Tuesday’s agenda: Barclays and Tullett Prebon; bank and broker both to report

Last updated: 05:00 03 Mar 2015 AEDT, First published: 06:00 03 Mar 2015 AEDT

bank_350_54f4927476112

Barclays sends out its finals on Tuesday, after recent updates from HSBC, Lloyds and RBS.

The banking sector has remained under the cosh from the regulator and followers of the sector will remain focussed on this subject. 

Revenue from Barclays’ all-important investment bank division has been under pressure so any comments on this alongside any updates on the progress of the groups restructuring plan, will be worth noting by investors. 

Recent updates have helped underpin the improved performance of the share price and investors will be hoping this trend can continue.

UBS analysts have a Buy rating on the bank, with a target price of 305p.

“We are looking for reported EPS of 11.1p. Progress on the run-down of non-core and build-up of CET1 ratios will be key areas of focus for the market,” said UBS.

Tullett Prebon will also reveal its full-year numbers tomorrow, and according to spread betting firm IG Group, consensus is for revenue of £703mln, and adjusted net income of £66mln.

The firm specialises in acting as an intermediary for banks to trade financial products, and usually deals in instruments that are not offered on exchanges.

A drop in market volatility and a more prudent attitude to risk at major banks have seen revenues and profits decline at the interdealer broker.

The company’s first-half update revealed a 15% decline in revenues, and low trading volumes were blamed for the tumble in income. 

IG analyst David Madden says Tullett’s problems are threefold: "Market volatility has waned since the heady days of the credit and eurozone debt crisis, investment banks are trimming their trading operations, and tighter regulation on derivatives dealing."

Tuesday

Finals: Taylor Wimpey (LON:TW.), Moneysupermarket.com (LON:MONY), Barclays (LON:BARC), Laird (LON:LRD), Travis Perkins (LON:TPK), Glencore (LON:GLEN), Regus (LON:RGU), Direct Line Insurance Group (LON:DLG), Paddy Power (LON:PAP), Tullett Prebon (LON:TLPR)

Trading statement: Stagecoach Group (LON:SGC)

Interims: Clinigen Group (LON:CLIN), Ashtead Group (LON:AHT), Betfair Group (LON:BET)

Economic announcements expected RBA rate decision, Canadian GDP, API crude Inventories, Fed’s Mester (Non-Voter, Soft Hawk), UK 2020 Bond Auction.


Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

11 hours, 11 minutes ago