Barclays drags down U.K. bank stocks after warning on net interest margins

Barclays led U.K. banking stocks lower on Tuesday, after the London-listed lender posted a sharp fall in third-quarter profits and warned that a strategic review would lead to large cost cuts.

Barclays BARC, -6.11% shares lost more than 5% as investors were particularly concerned by news that net interest margins — the difference between the rate paid to customers for their deposits and the interest received on loans — were forecast to be in a range of 3.05% to 3.10% this year, down from the previous 3.15% to 3.2%.

The struggling U.K. financial sector left London’s FTSE 100 UK:UKX underperforming on Tuesday with a 0.1% loss, while Frankfurt’s DAX DX:DAX gained 0.2% and the CAC 40 FR:PX1 in Paris added 0.5%, the latter benefiting from gains in luxury groups after Hermes RMS, +2.57% reported better-than-expected results.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

S&P 500 futures gain as Treasury yields fall further, Microsoft and Alphabet earnings loomJamie Chisholm is a markets reporter based in London.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

Web3 Security Firm Blockaid Raises $27M to Help Tackle Industry's 'Never-Ending' ChallengesJamie Crawley is a CoinDesk news reporter based in London.
Fuente: CoinDesk - 🏆 291. / 63 Leer más »