Barclays Shares Fall After Surprise Drop in Trading Revenue
- Bank cites underperformance in U.S. rates trading business
- Firm’s pretax profit more than doubles from a year earlier
Barclays' CEO Says Close to Closing Non-Core Business
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Barclays Plc fell the most in almost six months after posting a surprise drop in trading across debt and equity.
The firm reported an unexpected decline in fixed-income trading revenue, contrasting with a 24 percent jump achieved by its five largest American counterparts and a smaller increase at Deutsche Bank AG, its biggest competitor in Europe. Income from equities trading also fell more than expected, while investment banking fees surged.