What now for besieged equity holders in Barclays?
Last week’s free-fall in Barclays stock, after the Libor scandal, triggered a flurry of broker notes with buy recommendations on the FTSE-listed shares, citing manageable litigation costs and attractive valuations. Although the stock surged 5% on Monday open, in response to Marcus Agius’s decision to resign as chairman, it’s still trading at an estimated price to net asset value ratio of 0.41 for the 2012 fiscal year.
Brokers had expected a positive re-rating of the bank subsequent to its first-quarter results when it announced profit before tax of £2.4bn,
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