Trending: Barclays Shares Slump After Results Disappoint

1139 GMT - Barclays is among the most mentioned companies across news items over the past six hours, according to Factiva data. The U.K. lender posted fourth-quarter and full-year results below consensus' expectations which pushed the stock to the bottom of Britain's blue-chip FTSE 100 index as shares tumbled 10%. The bank's annual earnings were hit by a trading error that led it to oversell U.S. securities, a downturn in deal-making which dented investment-banking fees and a fourth-quarter GBP498-million charge on bad loans due to deteriorating macroeconomic conditions. "With these headwinds in place, it is perhaps of little surprise that pre-tax profit of GBP7 billion is down 14% year-on-year," says interactive investor's head of markets Richard Hunter. "Overall, there isn't much to get excited about beyond the performance of its consumer lending business which was boosted by higher interest rates," adds Russ Mould, investment director at AJ Bell. Analysts also flagged as underwhelming the bank's buyback announcement and unambitious 2023 guidance. Dow Jones & Co. owns Factiva. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

February 15, 2023 07:00 ET (12:00 GMT)

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