Barclays Capital Profit Falls 33% in ‘Challenging’ Market

Barclays Plc, the U.K.’s third-largest bank by assets, said pretax profit at its Barclays Capital investment banking unit declined by 33 percent after revenue from fixed income, currencies and commodities trading fell in a “challenging” market.

The unit, run by Jerry Del Missier and Rich Ricci, reported a 15 percent drop in revenue to 3.28 billion pounds ($5.43 billion) in the three months to March 31 against the same period last year, while pretax profit fell by a third to 982 million pounds, the London-based company said in a statement today. The shares dropped the most in eight months in London trading.