- summary:
- Although its profits increased by 24 % on an annual basis, the price of the Barclays Bank’s share decreased with the sale of investors after a strong operation.
Barclays’s share price decreased sharply as investors sold their assets in response to the results of the unanimous profits for the quarter ending in December 2024. The stock decreased by 5.75 % and traded in GBX 291.40 at the time of this report. It rose to record higher levels than GBX 312.40 on Wednesday in anticipation of profit results. Today’s decline is barely surprising, as investors were obligated to profit after a strong offer in 2024.
The bank reported the pre -tax profits of 1.66 billion pounds per quarter, with the tax profit in the entire year increased by 24 % to 8.1 billion pounds. The separate profit won the estimates of consensus of 1.62 billion pounds, injected the primary upward momentum at the Barclays share. The bank also announced a billion pounds re -purchase program.
This year may prove a challenge to the bank’s net interest revenues (NII), if the Bank of England continues to interest rates. Barclays (LON: Barc) established 11.2 billion pounds in NII last year, thanks to a high challenge an ecosystem. However, the bank is optimistic and is expected to rise to 12.2 billion pounds in 2025.
Barclays also managed to reduce operating expenses by 1 % in 2024 and announced the distribution of profits from GBX 9 per share. Its acquisition of the TESCO retail bank helped increase income by 9 %.
Meanwhile, Barclays, Chairman of the Board of Directors of the group, Nigel Higgins, extended for a period of three years. In addition, raising his salary by 8 % to 925,000 pounds. This stability is likely to guarantee the group’s management and add support to the Barclays share price.
The above factors are photographed by Barclays in a strong position, and I expect the stock price to return to the upward direction in the near term after the disturbance caused by profit.
Partials price prediction
The share price momentum indicates the continuation of the landing track below the axis level at the GBX 293.75. The arrow is likely to find the first support in GBX 287.75, however, the sellers stretching item will reduce this level and may test GBX 282.95.
On the contrary, the GBX 293.75 fracture will turn the momentum into the upper direction. If this happens, the PARC price is likely to move to the first resistance in GBX 300. Listing the negative side will be invalid if the price exceeds this level. Also, the momentum can extend the strongest gains and the GBX 305.35 test.
