Barclays shares slump 7% on profit news

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Shares in Barclays closed down 7.4% after its third quarter profit figures for expectations came in below analysts’.

Profit for the period rose by 31% to £1.1 bn, giving the bank a profit for the nine months so far of £3.4 bn.

But its investment-banking profit was 1 billion ££ £ 652m, in what the bank said was a difficult quarter for its markets business.

Barclays-chief Jes Staley is currently being investigated over claims that it tried to, the name of the whistleblower.

The whistleblower wrote a letter, of the questions according to the decision, to employ you Mr Staley old colleagues from JP-Morgan-days.

Analysis, Simon Jack, business editor

Barclays shares are getting hammered on the ongoing concern about the performance of the investment bank, where sales increased by 18%. The revival of this bit of the bank is at the heart of the chief executive, Jes Staley is strategy and there is little evidence that he provides, such as Barclays is enjoyed behind his age.

Already under the control by the regulatory authority for its handling of the whistleblowing incident, he is now under pressure from shareholders to grow impatient with the cost-effectiveness of the UK’s only global investment bank. Barclays is also involved in a fight with the U.S. government over how many billion it will pay in the millions for his role in the sale of risky mortgages.

Plus, it is fraud is accused of using the funds in Qatar after the crisis. Mr. Staley asked shareholders to keep the faith with him today – but with the bank currently estimated to be just over half of what they preached to their value on paper – because now he is the unconverted.

Barclays has already been reprimanded, Mr Staley for his behavior, but the matter is still being investigated by the financial supervision, Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

Mr. Staley is responsible for the UK’s only remaining major international investment bank.

Weak profits in investment banking are widely used, since the activity in markets is muted, cut against a background of unusually low interest rates that make it difficult for the banks profits.

Barclays, however, said profits growth was driven by a £932m reduction in operating costs, and its performance was encouraging.

Its UK banking division saw an improvement in profitability, and what he said was a “good underlying return” of its consumer cards and payments businesses.

Mr Staley said that these results were important because they were the first we have been for many years, in which “not in a state of restructuring”.

They were also favored by the absence of further provision for payment protection insurance (PPI) mis-selling.

In the first six months of the year, the bank set aside £700m. Its total provision for PPI stood at £9.1 bn.

The writing could call the end of the PPI scandal, the sick banks in the United Kingdom and results.

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The bank also confirmed that it is the establishment of a separate UK banking was business, his day-to-day banking operations, apart from riskier investment banking, as required by new rules brought in to stop the in, a repeat of the last decade, the credit crisis.

Laith Khalaf, senior analyst at brokers Hargreaves Lansdown, gave welcome a wide range of results, but highlighted the study in Jes Staley and the long list of other requests – as a matter of concern.

“Litigation is not still remains a risk for Barclays, with more than 20 separate investigations not yet completed, to discover at least one in relation to Jes Staley trying to get a whistleblower in their own ranks,” he said.