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Barclays profits are boosted by trading following Wall Street leads

Barclays headquarters in London, England.

Justin Solomon | CNBC

Barclays reported higher-than-expected third-quarter profits on Thursday following Wall Street rivals receiving significant backing from the investment banking sector.

British banks reported an imputed profit of £ 1.45 billion in the third quarter. Analysts expect a net profit of £ 931.25m, according to Refinitiv data, showing a significant increase from £ 611m reported during the same period last year. increase.

Other highlights:

  • The Tier 1 capital (CET1) ratio of common stock was 15.4%, compared to 14.6% at the end of the third quarter of 2020 and 15.1% in the previous quarter.
  • Group revenues reached £ 5.5 billion, up from £ 5.2 billion in the year-ago quarter.

Barclays Wall Street rivals Goldman Sachs, Wells Fargo, Citigroup, Bank of America, Morgan Stanley and JP Morgan all forecast their earnings forecasts for the quarter against the backdrop of the strength of investment banks over the past week. It exceeded.

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Barclays profits are boosted by trading following Wall Street leads

Source link Barclays profits are boosted by trading following Wall Street leads

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