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Barclays reported a 20 per cent rise in profits in the first quarter, helped by solid performance in its investment bank and the flurry of trading activity unleashed by Donald Trump’s global trade war.
The bank said its net profits were £1.9bn, up from £1.6bn a year earlier and ahead of analyst expectations of £1.68bn, while revenues rose 11 per cent to £7.7bn.
Barclays’ investment bank reported revenues of £3.9bn in the first three months of the year, up 16 per cent from the same period last year with equities trading bringing in £963mn.
Banks across Wall Street and Europe have benefited from a surge in market volatility since the start of the Trump administration in January. Barclays has traditionally been stronger in fixed income trading.
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