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Barclays shares bounce back

Despite a better-than-feared set of results, the bank acknowledged that government support schemes may have simply delayed defaults and further impairments. Baseline assumptions for negative interest rates from 2021 are also hardly reassuring
October 23, 2020
by Alex Newman
  • Third-quarter impairments came to just £608m, against forecasts of £950m
  • A strong outing from the investment bank also juiced profits
  • Government support may have only delayed credit deterioration, the bank warns
IC TIP: Hold at 112p

When expectations are so low, the ability to pleasantly surprise increases. And so it has proved with Barclays (BARC), whose share price shot up 7 per cent after third-quarter numbers beat market profit forecasts and expected credit losses dipped 63 per cent.

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