@felixbocharov Valuation prices in the future as well as the past. London losing the status of EU's financial center will hit all UK banks hard. Just because it's down 40 or 50% from a recent peak, it still valued at $30bn.
I agree that London will inevitably lose its status of a financial center, a lot of banks are already moving out of the U.K., but what does it mean for Barclays? They can change their headquarters if necessary.
nowadays even Shanghai emerged as a new hub for trading gold instead of LME. Frankfurt may be a more robust financial center after Brexit