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Investors react to Barclays positive H1 results

Publishing Date : 17 September, 2019

Author : TSAONE SEGAETSHO

Investors moved to grab shares from Barclays this week following the banker’s optimistic cautionary announcement which revealed that the half year results will come positive.  A recent market view shows that Barclays was the biggest gainer this week, going up by 17 thebe to close at 540 thebe from 523 thebe.


Barclays led the domestic companies as the Domestic Index saw a recovery this week by gaining 0.42 percent to close at 7428.64 points, while the Foreign Index was flat, closing at 1564.55 points. The Domestic Index woke from falling at 1.24 to close at 7397.77 points while the FCI was unchanged, closing at 1564.55 points. One transaction by Barclays was noted this week on BSE main board. The banker has 852,161,252 issued securities and market capitalization of P4, 601.67 million. Having a turnover of 891.00 Barclays had 165 securities which traded during week.


Barclays which is yet to adopt the gigantic ABSA brand which had impressive latest financial results, echoing the latest positive cautionary announcements which predicted that the results will be encouraging. The banker in its financial results for the half period year ended 30 June 2019, achieved a profit before tax of P387 million on statutory basis representing growth of 49 percent year-on-year. This was an increase from P260 million registered in 2018 half year.


“This performance was influenced by growth in income, contained costs and favorable credit losses. Total revenue is up year-on-year by P67 million, propelled by balance sheet growth and an increase in our fees and commission income. We continued to drive momentum across all our key segments to negate the effects of compressed margins arising from an increase in cost of funding,” said Barclays in a statement this week.

The Markets

Barclays which registered a change of 17 thebe or 3.25 percent, topped the list of BSE high flyers for this week’s market review, according to Stockbrokers Botswana Weekly Report. Property Company RDCP, moved from 220 thebe to 225 thebe which is a 2.27 percent or 5 thebe change.  New Funds changed up from 5055 thebe to 5122 thebe which is a 67 thebe change or 1.33 percent. The local bourse market turnover amounted to P24, 124,343 as 3,625,709 securities traded. For the ETF basket NewGold accounted for 83 percent of turnover while in BSE main board Letshego contributed 9 percent.


A slight movement was noted from the tourism and hospitality entity Chobe which moved from 1063 thebe to 1064 thebe registering a small change 1 0.09 percent. Some fell down like New Gold which plummeted from 16100 thebe to 16070 thebe, a decline of 30 thebe or 0.19 percent. Far Property Company also fell from 247 thebe to 246 thebe, a 1 thebe or 0.40 percent drop.


Last week BSE CEO Thapelo Tsheole during the opening bell ceremony put forth the Equity Market Performance for 3 January to 30 August 2019. He said the turnover was P1.18 billion while the average daily turnover was P7.16 million. There were 378.2 million shares which traded while the market capitalization was P407.8 billion according to Tsheole. The domestic companies are currently 24 while foreign companies are 9. Serala board has one company registered which is banker BBS.

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