British banking tycoon, Barclays PLC (NYSE:BCS) intends to slice almost 2,000 jobs from its investment bank as an element of a broad reformation, according to The Wall Street Journal on Thursday, mentioning people closely related with the matter.
The job cuts are predicted to be declared in the start of next year, according to the newspaper, and would turn Barclays the most recent lender to involve in what’s turning a global cost-lowering splurge in the banking sector.
The layoffs are predicted to be focused in Asia and continental Europe, the report said, with top managers focusing to safeguard the bank’s US and UKprocesses.
Its competitors include HSBC Holdings plc (ADR) (NYSE:HBC) that surged +0.46% to $52.03 with the total traded volume of 303,585.00 shares and Royal Bank of Scotland Group plc (ADR) (NYSE:RBS) that decreased -0.31% to $9.69 with the total traded volume of 30,518.00 shares.
Other Financial stocks with bullish trend include Metlife Inc (NYSE:MET) up +0.85% to $33.90, iPath S&P 500 VIX Short Term Futures TM ETN (NYSEARCA:VXX) up 0.81% to $29.82 and Morgan Stanley (NYSE:MS) up 0.23% to $17.74, whereas with bearish trend include SPDR S&P 500 ETF Trust (NYSEARCA:SPY) down -0.16% to $143.31, iShares MSCI Emerging Markets Indx (ETF) (NYSEARCA:EEM) down -0.12% to $43.33 and PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) down -0.02% to $65.77.
Barclays PLC (ADR) (NYSE:BCS) stock in current session held volume of 658,515.00 shares as compare to its average volume of 3.65 million shares. The stock after opening at $16.31 hit high price of $16.44 and then trading at $16.40 by scoring +1.36%.
As the revenue measures BCS generated revenue of 36.69 billion. Company’s annual sales growth for the past five year was -1.14%.
The stock showed weekly upbeat performance of +1.57% which was maintained for the month at +9.03%. Likewise the positive performance for the quarter was recorded as +18.45% and for the year was +38.53% while the YTD performance remained at +51.21%.
The BCS past twelve months price to sales ratio was 1.35 and price to cash ratio remained 0.30.
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