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Barclays trading gains offset by impairment surge

The lender said that while bad debt charges will improve during the second half, the rise in investment banking income will also diminish
Barclays trading gains offset by impairment surge

Like its US counterparts, Barclays’ (BARC) pre-tax profits were cushioned from a surge in provisions for toxic debts by the jump in income from its investment banking operations during the first-half. The second quarter rally in equity and fixed income investment markets led to a “standout” performance from the markets business and pushed corporate and investment banking income up almost a third.

IC TIP: Hold at 107p

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