Brexit has hit Barclays(as well as the other banks) share price hard

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I was lucky enough to cash out a load of Barclays shares last year at a peak but now the share price is sitting at a record low. Is this going to be a long haul for the price to reach similar levels? Are we looking at 5 or 6 years for a recovery (if at all).

I was wondering what everyone's predictions are for the economy over the next 12 months and beyond
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  • Ray_Singh-Blue
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    Share price dropped to 51 in January 2009
  • AshleyBrownCow
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    Share price dropped to 51 in January 2009

    WOW, it seems there is a long road ahead
  • JohnRo
    JohnRo Posts: 2,887 Forumite
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    I was wondering what everyone's predictions are for the economy over the next 12 months and beyond

    Probably not as well as some are hoping, probably not as badly as some are expecting.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • AshleyBrownCow
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    JohnRo wrote: »
    Probably not as well as some are hoping, probably not as badly as some are expecting.

    Pretty much the answer I was expecting
  • pinkdalek
    pinkdalek Posts: 1,355 Forumite
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    No one knows.
    Banks share prices have been affected because they run the economy, it was expected.
    I do feel though they are better prepared for it this time and once a clearer picture is established as to what the UK is doing with trade and the EU then I think the share prices in them will climb back up.
  • economic
    economic Posts: 3,002 Forumite
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    long term they should rise with interest rates because of net interest margin. you will have to hold onto it for a whilst though cos they aint raising rates soon.
  • Pincher
    Pincher Posts: 6,552 Forumite
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    I believe we get booms in years ending in "8", followed by splat.

    Funny how 2018 is two years away, and coincides with the two years we get before we really exit Europe.

    So, we had a scare, but nothing has actually changed. Now, we get a recovery, and even some growth. Let us assume no worthwhile progress has been made, so everything grind to a halt in 2018. You can't even import a crate of oranges from Spain, because there is no procedure. If fishermen go out to fish, the Europeans tell us to stop, unless we buy some quota. The financial services stop working, due to no workable passport mechanism to the Eurozone.
  • Voyager2002
    Voyager2002 Posts: 15,335 Forumite
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    You might look at the Italian banks...

    In some ways their share prices represent spectacular bargains.
  • Ray_Singh-Blue
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    Or Greek ones. I bought a Greece fund thinking it was cheap at -95% from peak. But it has got another 42% cheaper since then.
  • Dird
    Dird Posts: 2,703 Forumite
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    Or Greek ones. I bought a Greece fund thinking it was cheap at -95% from peak. But it has got another 42% cheaper since then.
    Thanks for the heads up, will start tilting my portfolio towards Greece and wait for the recovery
    Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
    Cashback sites: £900 | £30k in 2016: £30,300 (101%)
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