Morning Commentary: Barclays’ preferreds down as CEO beats probe; AT&T’s global notes improve

By James McCandless

San Antonio, April 24 – Barclays plc’s 8.125% series 5 non-cumulative callable dollar preference shares were off slightly in early trading with about 45,000 shares trading hands.

The company confirmed on Tuesday that CEO Jes Staley will remain on the job after the conclusion of an inquiry by U.K. regulators in which he was fined no more than $2 million for seeking the identity of a company whistleblower.

The preferreds were down 4 cents to $26.06.

AT&T Inc.’s 5.35% global notes due 2066 were up in early trading with about 22,000 shares exchanged.

The company is being challenged with two antitrust probes from the Department of Justice. A court battle over its attempted merger with Time Warner enters another week, with both sides arguing whether or not the merger would hurt or harm consumers.

Last Friday, the government opened up a second probe, alleging that the company had cooperated with Verizon to make it difficult for consumers to switch wireless carriers.

The notes were up 3 cents to $24.83.

The Wells Fargo Hybrid & Preferred Securities Financial index was down 0.17% in early trading, adding to the 0.26% decline at market close on Monday.

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