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Barclays: no big deal in quarterly results

(CercleFinance.com) - Barclays reported a better-than-expected quarterly profit on Thursday, mainly driven by the strength of its investment banking division.


The British bank's pre-tax profit for the third quarter came in at nearly two billion pounds, up from 1.15 billion pounds a year earlier, largely beating the consensus of 1.6 billion pounds.

These results were nevertheless greeted with little enthusiasm by analysts.

We expect the group to continue to gain market share in investment banking, but we are concerned that much of this progress will be driven by competitors exiting these businesses rather than by a genuine winning momentum, RBC said; it therefore expects the pace of market share gains to slow.

In London, Barclays shares were down over 0.6% in late morning trading on Thursday.


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