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    BARC   GB0031348658


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FTSE falls as oil, banks drop; Burberry buoyed by beauty deal

04/03/2017 | 12:10pm EST
FILE PHOTO:  A man walks through the lobby of the London Stock Exchange in London

LONDON (Reuters) - Britain's top share index fell on Monday in choppy trade, beginning the second quarter on a weak note as oil-related stocks reversed course to trade lower and banks also weighed.

The blue chip FTSE 100 <.FTSE> index closed 0.6 percent lower at 7,282.69 points as markets traded lower following news that a coalition of U.S. states and municipalities have begun legal action against President Donald Trump's administration over energy efficiency standards.

Oil stocks rallied earlier in the session but gave up gains to end in negative territory as oil prices came under pressure. BP (>> BP plc) retreated 0.3 percent and Royal Dutch Shell <RDSa.L> fell 1 percent.

Likewise British banks also lagged, and took around 13.5 points off the index, the biggest sectoral drag. Barclays (>> Barclays PLC) fell 1.6 percent and Royal Bank of Scotland (>> Royal Bank of Scotland Group plc) was down 0.9 percent, in line with a broader decline among continental lenders.

Resources-linked stocks and banks have been the biggest beneficiaries of the reflation trade which has driven global markets as investors bet on increased infrastructure spending and tax cuts, which gathered pace after Trump was elected U.S. President in November.

Among individual fallers, ITV (>> ITV plc) dropped 2.6 percent and gave back a large part of the gains it made on Friday on the back of M&A speculation.

Late on Friday, ITV jumped following a regulatory ownership filing that fuelled speculation of renewed Liberty Global (>> Liberty Global PLC) interest in the company.

ITV's shares pulled back on Monday after Liberum analysts said that it had spoken with the company and ITV had said that the move was not Liberty increasing their stake in ITV.

Retailer Next (>> NEXT plc) was another sizeable faller, down 3.6 percent after Exane BNP Paribas cut its rating on the stock to "underperform" from "neutral".

Luxury firm Burberry (>> Burberry Group plc), however, was a top riser, up 0.8 percent after it agreed to license its fragrances and cosmetics business to Coty (>> Coty Inc) for $162 million, plus a $63 million payment for inventory.

"It’s maybe one of those signature deals which could raise expectations of a new way of doing business, a new extra source of revenue beyond the traditional model," Jasper Lawler, senior market analyst at London Capital Group, said.

Outside of the blue chips, Imagination Technologies (>> Imagination Technologies Group plc) plunged more than 61 percent, its biggest one-day loss on record after its biggest customer Apple <APPL.O> said that it would stop using the British firm's graphics technology in the iPhone and other products in up to two years' time.

"It’s the worst nightmare for Imagination. Apple accounts for about half its revenues – you simply cannot easily replace a customer of that scale in a hurry, hence the gigantic selloff in the stock," Neil Wilson, senior market analyst at ETX Capital, said.

(Reporting by Kit Rees; Editing by Stephen Powell and Pritha Sarkar)

By Kit Rees

ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC 0.10% 186.94 Delayed Quote.27.65%
BNP PARIBAS 0.96% 56.72 Real-time Quote.30.96%
BP PLC 2.28% 348.65 Delayed Quote.32.10%
BURBERRY GROUP PLC 2.18% 1803.5 Delayed Quote.-1.23%
COTY INC. -2.79% 9.4 Delayed Quote.32.62%
FTSE 100 0.91% 7186.84 Delayed Quote.10.24%
IMAGINATION TECHNOLOGIES GROUP PLC 0.00%End-of-day quote.-28.08%
ITV PLC 1.52% 112.1308 Delayed Quote.3.42%
LIBERTY GLOBAL PLC 0.55% 27.26 Delayed Quote.9.29%
MSCI UNITED KINGDOM (STRD) -0.72% 1106.609 Real-time Quote.8.65%
NATWEST GROUP PLC 0.37% 217.6 Delayed Quote.29.62%
NEXT PLC 1.20% 8088 Delayed Quote.12.79%
S&P UNITED KINGDOM (PDS) 0.93% 1439.48 Delayed Quote.11.43%
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Sales 2021 21 854 M 28 974 M 28 974 M
Net income 2021 5 935 M 7 869 M 7 869 M
Net Debt 2021 - - -
P/E ratio 2021 5,55x
Yield 2021 3,27%
Capitalization 31 210 M 41 267 M 41 378 M
Capi. / Sales 2021 1,43x
Capi. / Sales 2022 1,41x
Nbr of Employees 83 000
Free-Float 99,6%
Duration : Period :
Barclays PLC Technical Analysis Chart | BARC | GB0031348658 | MarketScreener
Technical analysis trends BARCLAYS PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 23
Last Close Price 186,66 GBX
Average target price 245,18 GBX
Spread / Average Target 31,3%
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C. S. Venkatakrishnan Group Chief Executive Officer & Director
Tushar Morzaria Group Finance Director & Executive Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Laura Padovani Group Chief Compliance Officer
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