London, July 1, 2026, 15:01 BST
- Barclays (LON:BARC) was up 0.99% at 511.6p as of 14:32 BST. The FTSE 100 was off 0.32% at 14:47 BST.
- The bank finished a £500 million buyback at an average price of 454.2957p, which is 12.6% under the most recent share quote.
- Barclays bought its £750 million lease on One Churchill Place, which is 1.5 times the value of the finished buyback. The bank said it expects the move to be broadly neutral for CET1 and earnings.
Barclays PLC (LON:BARC) traded ahead of the London market on Wednesday after a new U.S. filing showed its latest £500 million buyback wiped out shares at prices under the market level.
Shares last changed hands at 511.6p, rising 0.99% at 14:32 BST. Fifteen minutes later, the FTSE 100 was at 10,463.74, down 0.32%.
| London price check | Level | Day move | Time |
|---|---|---|---|
| Barclays (LON:BARC) | 511.60p | up 0.99% | 14:32 BST |
| FTSE 100 | 10,463.74 | down 0.32% | 14:47 BST |
Barclays said in a July 1 Form 6-K it repurchased 110,060,483 ordinary shares for cancellation at a volume-weighted average price of 454.2957p. The bank now has 13,506,618,629 ordinary shares with voting rights, with no shares held in treasury.
At 511.6p, the cancelled shares work out to around £563 million in market value. If Barclays had used £500 million at that price, it would have cancelled about 97.7 million shares—so 12.3 million fewer shares than what it actually retired. That’s the point: the execution price affects the per-share data.
| Barclays price marker | Figure | Read across |
|---|---|---|
| Q1 tangible net asset value per share | 405p | Base level |
| Buyback average price | 454.2957p | 1.12 times Q1 TNAV |
| Latest Barclays quote | 511.60p | 1.26 times Q1 TNAV |
| 52-week high | 554.10p | Latest price is 7.7% under the high |
Barclays posted Q1 tangible net asset value per share at 405p. The CET1 ratio came in at 14.1% and return on tangible equity was 13.5%. Barclays finished its buyback at 1.12 times TNAV, while the stock now trades at 1.26 times.
Shares moved after Barclays said Tuesday it had agreed to buy a 999-year leasehold in its Canary Wharf HQ at One Churchill Place for £750 million. The building totals over 1 million square feet. Its previous lease was set to end in 2039.
The price comes out to about £750 per square foot if the building is valued at 1 million square feet. Reuters Breakingviews gave the same estimate, putting the deal at roughly £750 per square foot. The property sale is bigger than the completed £500 million buyback.
Barclays said buying the property should be largely neutral for its CET1 ratio and earnings, with savings from the current lease mostly offset by the cost of financing and depreciation. CEO C.S. Venkatakrishnan said the move gives the bank “long-term certainty” and “greater flexibility over our London footprint.” Shobi Khan, CEO of Canary Wharf Group, called the acquisition a “strong endorsement of both Canary Wharf and London.” CWG
Barclays set out plans in April for group RoTE above 12% by 2026, with a CET1 ratio target of 13%-14%. The bank also plans to return over £15 billion in capital between 2026 and 2028. At that time, Venkatakrishnan said Barclays was “confident in delivering all our financial targets.” Investegate
Barclays shares trade at 1.26 times Q1 TNAV, so buying back stock now is tougher on price. A new buyback at Wednesday’s close would only shrink the share count by around 11% less than the prior round for the same outlay. The HQ buy pushes a long-term lease expense into a leasehold Barclays controls, as it works to manage CET1 within its target band.
The UK blue-chip index edged down, breaking a streak of six quarterly gains, Reuters said. Earlier, losses in energy and mining weighed, but financial and industrial stocks did some balancing. Barclays was up, lifted by financial-sector strength, but its buyback deal gave the shares an extra bump.
Barclays’ next report is set for July 28, when it’s due to post H1 2026 numbers, its results schedule shows.
