Barclays first quarter profit declines, share fall

Barclays posted a bigger-than-estimated drop in first-quarter profit as a fall in revenue from trading bonds, currencies and commodities cut earnings from the investment bank by 49 per cent.

6th May, 2014
Barclays stock fell 2.7 per cent in London trading.

Barclays, trying to stanch an exodus of senior dealmakers, posted a bigger-than-estimated drop in first-quarter profit as a fall in revenue from trading bonds, currencies and commodities cut earnings from the investment bank by 49 per cent.

Pretax profit, excluding swings in the valuation of the lender’s debt, fell 5 per cent to £1.69 billion, missing the £1.82 billion-pound estimate of analysts provided by the bank, Barclays said in a statement today. Income from FICC, traditionally...

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