Barclays Climbs as Staley’s Traders Thrive on Volatility
- CEO says he’s sticking around as equities beat Wall Street
- Bank also takes smaller impairment charge than expected
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Barclays Plc Chief Executive Officer Jes Staley’s drive to make investment banking the centerpiece of his strategy paid off in the third quarter, with equities trading in a volatile market beating the bank’s Wall Street peers.
The shares approached a two-month high. The London-based bank’s equity trading income jumped 40% and foreign-exchange, rates and credit trading rose 23%, helping the company beat earnings estimates. Barclays also posted lower-than-expected impairments from the pandemic that’s roiling its key markets.