Barclays plc (BCS) Surges After Addressing Concerns, Sees '08 Profit and No Further Capital Raises

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After being absolutely pummeled last weak on nationalization concerns, shares of Barclays plc (NYSE: BCS) are up 40% in overseas and pre-open U.S. trading after the company said it sees "significant" pretax profits in 2008 and is not seeking any further capital raises. Barclays is also pushing up the reporting of 2008 financial results to February 9.

Barclays issued an open letter to employees, customers, clients, and shareholders in order to address the principal causes of concern they have been hearing.

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