|Bid||175.20 x 0|
|Ask||175.22 x 0|
|Day's range||175.00 - 178.52|
|52-week range||131.04 - 192.99|
|Beta (5Y monthly)||0.84|
|PE ratio (TTM)||17.35|
|Earnings date||13 Feb 2020|
|Forward dividend & yield||0.07 (3.96%)|
|Ex-dividend date||08 Aug 2019|
|1y target est||221.84|
I think these two FTSE 100 (INDEXFTSE:UKX) shares could be undervalued.The post I’d buy these 2 FTSE 100 stocks in a Stocks and Shares ISA today to make a million appeared first on The Motley Fool UK.
The U.S. Federal Reserve on Friday signaled it would take a lighter touch when supervising banks, in another win for the industry which has long complained that the regulator's closed-door supervisory process is opaque and capricious. In particular, foreign lenders Deutsche Bank, Credit Suisse, UBS and Barclays should no longer be held to the same supervisory standard as big U.S. banks after shrinking their combined U.S. assets by more than 50% over the past decade, said Fed governor Randal Quarles. "We have been giving significant thought to the composition of our supervisory portfolios and, in particular, to whether and how we should address the significant decrease in size and risk profile of the foreign firms," Quarles, who is also vice chair for Fed supervision, told a Washington conference.
(Bloomberg) -- The Bahamas may need to tap international debt markets as it confronts the steep cost of recovering from the most destructive hurricane ever to hit the islands.The government will probably borrow about $500 million in coming months as it deals with the roughly $3.4 billion in losses and damages from Hurricane Dorian, said K. Peter Turnquest, the Caribbean nation’s finance and deputy prime minister. The government is weighing options for how it will raise the debt, with some combination of an international bond sale and local borrowing likely, he said.Dorian sat over the Bahamas in early September, killing dozens, causing widespread flooding and ripping apart thousands of homes and businesses. The storm’s aftermath has wrecked the government’s fiscal plans, as it faces a slowing economy and the costs of reconstructing the islands so they can withstand the types of massive storms that have wrought devastation across the Caribbean in recent years.“In pure dollar terms this is absolutely the worst possible outcome and worst loss that we’ve ever seen,” Turnquest said in a telephone interview. “It is presenting a monumental challenge not only in terms of meeting reconstruction needs and costs but also for rebuilding in a way that is resilient and that will meet the anticipated frequency and severity that is being predicted as a result of this climate crisis.”The storm destroyed parts of Grand Bahama and Abaco islands, which sit about 100 miles east of Florida in the Atlantic Ocean and make up slightly less than a fifth of the tourism-dependent $12 billion economy. A revenue shortfall of about $230 million for the fiscal year ending June 30 and roughly $300 million in new spending is derailing its plans to cut debt levels.Read more: As Climate Change Fuels Storms, Time to Leave Coasts?: QuickTakeThe country was on a path to reduce debt to 50% of gross domestic product by 2024 from around 59% in 2018 by a steady tightening of budget deficits. Now, deficits are widening, and debt is expected to hover above 60% of GDP until 2024, according to government projections.Despite the disastrous storm, Bahamas debt returned 16.4% last year, ahead of the Bloomberg Barclays Emerging Markets USD Sovereign index’s 13% return, according to data compiled by Bloomberg.The government expects “significant progress” in rebuilding damaged areas this year, but it will take about three years before they’re full restored, Turnquest said. Reconstruction spending and inflows from insurance claims should help boost economic growth.A handful of major foreign investment projects remain on track, including a Disney Island Development Ltd. facility worth between $250 million and $400 million, and one of Carnival Corporation‘s largest cruise ports, planned for Grand Bahama, according to a government economic plan.Still, the government needs more investment and technical assistance to help it rebuild in a way that makes the islands less vulnerable to future storms, Turnquest said. Among other things, it wants to construct “resilient” infrastructure, renewable energy generation, disaster-resistant shelters, and to implement a payment system that will leave residents less reliant on cash, he said.“We are looking to the international community not to turn away from this issue but to commit and invest and help us figure this out,” he said.To contact the reporter on this story: Ezra Fieser in Bogota at firstname.lastname@example.orgTo contact the editors responsible for this story: Nikolaj Gammeltoft at email@example.com, Brendan WalshFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Barclays Plc is embarking on a plan to cut about 100 senior jobs, mostly in trading roles across its corporate and investment bank, as the British lender seeks to rein in costs.The bank has started trimming mainly managing director and director positions in London and Asian financial hubs, according to people familiar with the matter, who asked not to be identified as the details aren’t public.A spokeswoman for Barclays in London declined to comment on the cuts, which are among the first to be implemented by a major investment bank in 2020. Last year saw several European lenders reshape their securities units, eliminating thousands of roles amid increasing competition from U.S. peers and a lackluster home market.Jonathan Kitei, head of securitized product sales for Americas, Tim Johnston, head of EMEA cash high-touch trading and sales, and Anindya Das Gupta, head of treasury in India, are leaving the bank as part of the cuts, people familiar with the matter said. All three declined to comment.About a dozen positions in Asia have been hit, though the cuts won’t result in a retreat from any business or market in the region, one of the people said.The bank reports its full-year results in February. The corporate and investment bank outperformed Wall Street peers in the third quarter, as revenue from fixed-income and equities trading advanced. Chief Executive Officer Jes Staley, who has clamped down on expenses as he seeks to reach profitability targets, nevertheless said in October that “the outlook for next year is unquestionably more challenging now than it appeared a year ago.“Last year, he said Barclays cut 3,000 jobs in the second quarter. In the bank’s 2018 annual report, Barclays said global headcount was more than 83,000.Banks announced almost 80,000 job cuts last year, the most since 2015, with the vast majority of that sum in Europe. Societe Generale SA and Deutsche Bank AG are among other European lenders who have recently cut headcount.(Updates with details in fourth and fifth paragraphs)\--With assistance from Cathy Chan and Stefania Spezzati.To contact the reporters on this story: Anto Antony in Mumbai at firstname.lastname@example.org;Donal Griffin in London at email@example.com;Suvashree Ghosh in Mumbai at firstname.lastname@example.orgTo contact the editors responsible for this story: Ambereen Choudhury at email@example.com, Marion Dakers, Keith CampbellFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg Opinion) -- Peak gold production is looking a little more distant. Global supply of the yellow metal has been inexorably approaching its high-water mark, as ore is extracted faster than new discoveries are made. Mines have been aging fast. A sustained price rally can change that picture, as investors rekindle their enthusiasm for large-scale exploration and technological innovation. Bullion miners’ margins will benefit.Gold is coming out of a long period in the investor wilderness. Last year marked the biggest annual gain in prices since 2010. It broke through $1,570 last week — the highest in almost seven years. Gold prices are driven by factors that aren’t always predictable, but there’s certainly scope to go higher, with interest rates low and geopolitical tensions simmering. Holdings of gold in exchange-traded funds, popular with retail investors, are near 2012’s lofty levels. Central banks remain buyers too.This isn’t a repeat of 2011, when gold cracked a gravity-defying $1,900 per ounce — at least, not yet. The all-time high remains some way off, despite a handful of analysts already pointing to $2,000 gold. But the impact of higher prices is already trickling down. All-in sustaining cash costs remained at around $934 per ounce for the largest producers in the third quarter of 2019, according to Bloomberg estimates. The industry measure, though rising, makes for healthy margins. Barrick Gold Corp., for example, reported third-quarter free cash flow of $502 million, compared to $55 million in the previous three months.Last year’s flurry of M&A speaks to that exuberance: from Barrick Gold’s merger with Randgold Resources Ltd., completed that January, to Goldcorp Inc.’s union with Newmont Corp., plus a string of opportunistic offers among smaller companies, and imaginative deals like Barrick’s Nevada joint venture with Newmont. Overall, 2019 marked a return to levels last seen during the boom.There’s more to come, especially among smaller players. Diverging levels of bullishness, after years of homogenous forecasts, will create opportunities for miners to expand portfolios.But the deal spike tells a supply story too, and those numbers are grim even after miners pair up, with reserves down steadily for much of the past decade. The average life of a gold mine shrank to 11 years by 2018 from 16 in 2012, according to consulting company Wood Mackenzie Ltd. Back in 2015, as prices fell toward $1,000 an ounce, the World Gold Council warned that the industry was nearing “peak gold,” after which output would begin to decline. That’s still a threat.Tie-ups are no panacea. The trouble is there’s no short-term link between gold prices and supply. Sure, marginal projects become viable, but that’s a transient boost. Also, the lag effect means mines commissioned in boom years will still take years to come into production. Meanwhile, the scars of the 2011 excesses will make miners reluctant to change their assumptions for the long-term gold price, which are largely still at or below $1,300.The good news is that this works both ways. Higher supply, through exploration or innovation, also won’t depress prices.That should increase enthusiasm for exploration. Budgets have shrunk and success rates have been decreasing, even if gold continues to command the lion’s share of the mining sector’s exploration outlays. So far, spending has increased largely on existing projects rather than new finds. Splashy budgets don’t guarantee success, but the supply numbers will have to rise. There are already signs of long-awaited projects accelerating, such as Polyus PJSC’s Sukhoi Log in Siberia. Then there is investment in technology. This isn’t only to automate and electrify fleets, but to upgrade exploration and processing techniques. For gold, processing improvements could make even complex, refractory ore — resistant to more common extraction methods — attractive. Barclays Plc estimated in December that innovation could add 10% of incremental supply growth through 2025. Cost per ounce may come down 4%. That’s a target worth aiming for. To contact the author of this story: Clara Ferreira Marques at firstname.lastname@example.orgTo contact the editor responsible for this story: Matthew Brooker at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Former Barclays boss accused of 'funnelling funds' to QatarCourt hears that Thomas Kalaris put forward ways bank could meet Qatar’s demand for extra fees