After being absolutely pummeled last weak on nationalization concerns, shares of Barclays plc (NYSE: BCS) are up 40% in overseas and pre-open U.S. trading after saying it sees "significant" pretax profits in 2008 and is not seeking any further capital raises. The company is also pushing up the reporting of 2008 financial results to Monday, 9th February.
Barclays issued an open letter to employees, customers, clients, and shareholders in order to address the principal causes of concern they have been hearing.
Copy of the Letter:
Our starting point is that Barclays has £36bn of committed equity capital
and reserves; we are well funded, and we are profitable. However, we know
that our stakeholders want to see the detailed figures for 2008 as quickly
as possible. To enable that, we will bring forward the release of
our 2008 financial results, as agreed by our auditors, to Monday,
9th February.
When we ...
This article: 937 words
Date Published: Jan 26, 2009 07:19AM
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