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Barclays confirms it is looking at raising capital

Barclays has confirmed that it is looking at issuing new equity by selling shares.

In a trading statement issued today, the bank says it “notes” recent speculation regarding the possible issuance of new equity by way of a placing and pre-emptive offer to existing shareholders.

The bank has confirmed this is currently under active consideration.

It says a further announcement will be made in the event that it decides to pursue such an equity issuance.

Barclays says group profit before tax in May was well ahead of the monthly run rate for 2007.

It says relative to May 2007, global retail and commercial banking continued to deliver strong growth in profits and investment banking and investment management profits were in line.


Do not condemn us for asserting our rights

The payment menu and initial disclosure document were dropped because the European Union said it was illegal and Aifa said it wished the FSA had been honest about why its brainchild was now defunct.

Klahr to retire at Old Mutual

Old Mutual extra income fund manager Leonard Klahr is to retire next March. He will be replaced by Michael Gifford who becomes joint manager at the end of June.


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